Bankruptcy is often a last option. Unfortunately, many companies that advertise to keep you out of bankruptcy will end up hurting instead of helping you. You should know the following about debt settlement, and debt consolidation companies:
- Most debt consolidation plans and debt settlement schemes are frauds.
- Most debt consolidation companies will "rip you off."
- The Federal Trade Commission, numerous attorneys general, among others, have warned consumers to avoid most, if not all, debt settlement companies.
- Debt settlement companies do not provide protection for you against your creditors. Often you will be harassed by creditors, sued, and even have your wages garnished, or have liens placed against your assets while in these programs.
- The large credit card interest rates do not stop when you are in a debt settlement program.
- Even if a debt settlement company is able to negotiate a payoff of a credit card debt, you could be facing negative tax implications for the forgiveness of debt.
- If you have been ripped off by a debt settlement firm or debt management company, feel free to set up a free consultation to discuss your options, including litigation to cover your losses.
Get Real, Legal Debt Relief
As experienced bankruptcy attorneys, we have helped thousands of people who have been hurt by the economy, suffered a job loss or reduction in pay, been hit with a car repair or medical bill or are drowning in credit card debt. There is no shame in seeking help. The federal and state governments set up bankruptcy laws to protect you in times like this. Our lawyers provide counsel and representation for clients seeking protection under Chapter 7 bankruptcy, Chapter 13 bankruptcy or Chapter 11 bankruptcy. We also offer legitimate alternatives to bankruptcy.
Contact Our Hartford, Connecticut, Bankruptcy Attorneys
For a free, confidential consultation about getting debt relief through bankruptcy, please contact us online or call The Law Offices of Ronald I. Chorches at 860-563-3955. We have offices in Wethersfield and Winsted, and are easily reachable from the cities of Hartford, West Hartford, East Hartford and Manchester.