Debt Settlement versus Bankruptcy

There are many causes for financial stress and uncertainty. No matter the cause, it is important to realize that you are not alone during this difficult time. If you find yourself unable to pay your monthly bills like your automobile loan or mortgage, you may want to consider your options to get out of debt and on with your life. You have options to get a fresh financial start and a qualified bankruptcy attorney can help discuss them with you. The two most popular forms of debt resolution are bankruptcy and debt settlement.

If you or someone you know is suffering from financial difficulty and feel like you have no one else to turn to, contact a qualified bankruptcy attorney today. At Joshua Spirn & Associates, our Boston bankruptcy attorneys will help you to get out of debt and stop creditors from harassing you all hours of the day. Call us today at 800-975-5346 to schedule a free consultation with one of our qualified legal representatives.

How They Differ

While bankruptcy allows an individual or business to eliminate certain debts through asset liquidation or reorganization of debts, debt settlement can be more involved, in some ways. Debt settlement efforts involve the intervention of a third-party, either an attorney or a debt settlement agency, on behalf of a debtor through negotiations with the creditors or collection agencies to which money is owed. The goal of these discussions is typically to structure a repayment plan with a significantly reduced interest rate or otherwise more favorable terms.

Although this may sound like a good idea there are some downsides. These outside agencies can be very expensive and in many cases make your financial situation worse than before. Speak with a qualified bankruptcy attorney today for assistance understanding your options so that you can make the right choice for your situation.

Contact Us

If you believe you might benefit from debt settlement or bankruptcy, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346 today to take control of your future.