Debt Consolidation San Diego 

Debt consolidation is process in which you consolidate all of your outstanding account balances into one large balance and then make payments toward paying off your total balance.  Most lawyers agree that debt consolidation is the least favorable choice of your alternative debt solutions.  It is a disfavored remedy.  Depending  upon your circumstances, it is simply a bad idea to attempt debt consolidation San Diego.

Almost without exception, when one of our clients tells us that they have tried debt consolidation in San Diego, they ended up nowhere with debt consolidation and just delayed their bankruptcy filing.   The reason is that when you consolidate your debts you often end up paying only interest charges and fees to the debt consolidation company (they have to make money somehow), and after a couple of years you find yourself in the same situation you were when you started.

Debt consolidation can actually put you in a much worse position than when you start debt consolidation.  After a couple of years when you are looking back you will realize that had you filed bankruptcy instead of attempted debt consolidation you could have been rebuilding your credit and have a much better credit score!  

In comparison, debt settlement is usually a much better option.  With debt settlement your debt is settled in full and that way you will not end up in a situation in which a couple of years later you still owe the same amount.  Rather, you will owe nothing because the debt is settled in full. Hence, most attorneys are in agreement that debt settlement is a more favorable to debt consolidation.

And, chances are, if you attempt debt consolidation, a few years later you’ll end up filing bankruptcy anyway.  You might as well hire a bankruptcy attorney now and eliminate your debts and get a fresh start.  You can begin rebuilding your credit today and be on your way to a better credit score.  

If you have heard about debt consolidation and are considering pursing debt consolidation as an alternative to bankruptcy relief, you should first talk to a lawyer and review all of your other San Diego debt relief options.  Talk to an experienced bankruptcy attorney who can explain all of your options to you.