Real Estate Market Myth: Debt Consolidation

Myth: Someone with a lot of debt, can pay a debt consolidator to eliminate all their debt.

FALSE: Everyone would love to have a company that they pay a small fee and all their thousands of dollars in debt goes away.  Unfortunately debt consolidation does not work like that easily.  Legitimate debt consolidation companies can combine amounts, reduce fees or interests, and help with ways to pay less money, but not all will be eliminated.

The hardest part to debt consolidation is finding a company that is not fraudulent or take your money and not do anything to help.   It could be years down the road when debt collectors start looking for payment.  If someone cannot pay the money they owe, then bankruptcy may be the best way to go.  Talk to a CPA and attorney to find out your options before being taken advantage by the debt consolidators we all see on TV.

Need an attorney to discuss your Chaper 7 or 13 bankruptcy? Contact real estate agent Kristen Jurevich at 831.635.6719 for a great referral in the Hollister, San Juan, Aromas, Gilroy, Salinas, and Monterey area.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s