Pottstown Bankruptcy and Debt Consolidation Lawyer
Have you been receiving mailer after mailer from debt consolidation or loan modification companies? Do all of these companies promise to help you pay down your debt without the "hassle" of bankruptcy? While this may seem tempting to you now that you are facing serious financial struggles, do not pick up the phone and call one of these companies yet. Instead, seek out debt relief legal advice from an experienced lawyer.
Stephen Ross is a knowledgeable Pottstown bankruptcy and attorney. Together with our team of professionals, he is able to help you sift through your debt relief options to ensure you take the step that is most appropriate for your situation.
Debt Consolidation or Negotiation: Scam or Saving Grace?
At the Law Office of Stephen Ross, we have too often seen debt negotiators and consolidators prey on the weaknesses of people with money problems. In fact, negotiators often string individuals along by having these individuals pay a monthly fee for a certain time period with the promise of spending extensive time negotiating down all of their debt. What actually happens, however, is that a negotiator will come back to a debtor at the end of the time period and say that they were unsuccessful in negotiating down any or all of the debt.
On occasion, debt consolidation may be the best option, as it pools all debt into one loan and one lower monthly payment. With this consolidated loan, however, comes a 1099 form from the creditor, which means you will be taxed on any debt that has been forgiven or waived during the consolidation.
Bankruptcy or Debt Consolidation?
The best thing you can do to determine whether you should pursue debt consolidation from a reputable company or bankruptcy relief with the help of an experienced attorney is to speak with a lawyer. We have been helping clients obtain debt relief for years. We take a systematic approach to analyzing an individual's debt and determining options from there. We will put this approach to use for you during your free initial consultation.
Contact Our Pennsylvania Debt Relief Law Firm Today
Schedule your consultation to learn more about bankruptcy and debt consolidation. Contact our Pottstown-based law firm today.
