Already on ArticleSlash?

Forgot your password? Sign Up

A Debt Consolidation Company Can Offer Better Alternatives To Bankruptcy


Visitors: 163

If you have hit the corner and have no options than filing bankruptcy under immense pressure of debts, they you might be overlooking what a debt consolidation company can offer you. Since declaring bankruptcy is to declare one’s poor financial status, which is both embarrassing and makes the person less credible to banks and other lending organizations, it should be avoided at all costs. In such situations, people in debt crisis should think otherwise and look for better alternatives to filing bankruptcy.

This is where a debt consolidation company can be of help. These companies help people by providing different debt solutions that can prevent consumers from filing bankruptcy.

Different bankruptcy Alternatives

Before using a bankruptcy alternative, let us understand why you should opt for an alternative solution to debt crisis and not file bankruptcy. Here are some reasons why you should consider free debt consolidation help:

1. Creditors most of the times are found to be willing to negotiate for a lower debt repayment if they are convinced that your financial situation is really that bad. When the experts of a debt consolidation company negotiate with them, they are assured that they can at least recover partial amount. This way, the process of negotiation can help in reduction of amount due and save you from a possible bankruptcy.

2. Filing a bankruptcy could take a heavy toll on your time and money. Moreover, when you are declared a bankrupt, you are devoid of many financial opportunities and products. This is one of the biggest reasons why many people today seek alternatives of bankruptcy in form of online debt consolidation help.

3. It is better to consult a debt consolidation company to negotiate with the creditors for paying a partial and lower amount than to declare bankruptcy and lose right over your assets and properties at an auction, which could be very humiliating.

4. Besides helping you with consolidating debts helping you to get an affordable debt consolidation loan, a debt consolidation company would also offer credit counseling services. They would suggest programs and tips on how to cut down on credits, manage necessary monthly expenses, to keep debt risks at bay and to plan a budget to achieve targeted financial goal within a reasonable time frame.

5. Since a debt consolidation company helps in consolidation of all unsecured debts into one debt account therefore, users find confidence to pay off their creditors and avoid their names from the being figured in the list of defaulters.

Services provided by a debt consolidation company include bill consolidation, bill management, and debt elimination. Many of these companies even offer free debt consolidation help, and get an appropriate debt consolidation loan. They shrink your monthly repayment liabilities by up to 40 to 60%.

Asking for the professional assistance by a debt consolidation company to reduce debt pressure is quite beneficial to reduce your debt, repair your credit and bring you back from the brink of bankruptcy.

Apurva writes articles on how a debt consolidation company can help you to avoid bankruptcy and avail online debt consolidation help to to get credit card debt consolidation . Read more debt articles by this author on


Article Source:

Rate this Article: 
Bad Credit Debt Consolidation - The Bankruptcy Alternative
Rated 4 / 5
based on 5 votes

Related Articles:

Texas Bankruptcy - Viable Options To Avoid Bankruptcy, Debt Settlement & Debt ..

by: Tom Bates (February 03, 2008) 

Debt Consolidation Loan Consequences Find Alternatives to Debt Consolidation ..

by: Will Lowrey (October 15, 2008) 
(Finance/Debt Consolidation)

Company Debt - Avoid Bankruptcy And Save Your Company From Debt

by: James A Banks (June 05, 2007) 

Top Debt Consolidation Loans 4 Things to Look For Before You Choose a Debt ..

by: Richard Stevens (September 21, 2008) 
(Finance/Debt Consolidation)

Alternatives For Debt Consolidation!

by: Sarah Dinkins (February 04, 2007) 

Debt Consolidation - Home Equity Loan Alternatives

by: Charles Essmeier (February 21, 2007) 

Why You Should Consider Debt Consolidation Instead of Bankruptcy

by: Jon Arnold (July 30, 2008) 
(Finance/Debt Consolidation)

How to Avoid Bankruptcy With Debt Consolidation

by: John Philips (July 19, 2008) 
(Finance/Debt Consolidation)

Chapter 13 Bankruptcy Or Debt Consolidation - Which is Better?

by: Rick Hendershot (September 25, 2008) 
(Finance/Bankruptcy Personal)

Bad Credit Debt Consolidation - The Bankruptcy Alternative

by: David Faulkner (July 04, 2007)