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You are not alone in the bankruptcy process. Let us serve as your guide, helping you secure maximum debt relief through whichever type of bankruptcy is best suited to your specific case. Contact us today to get started.

Learn Why Debt Settlement Does Not Deliver on the Promises it Makes

You have likely seen the ads, billboards, commercials, etc. for debt settlement firms. They promise that they can help you pay off your debt quickly and painlessly. They claim to be a better option than bankruptcy. Is there any truth to this? Unfortunately, not usually. In most cases, debt settlement companies cannot deliver what they say they can.

If you work with a debt settlement company you may very well keep getting harassing collection calls, be sued, see your credit score continue to go down, and continue having your wages garnished. This is not a way to get your debt paid off – and it is not as good an option as bankruptcy. Keep reading to learn more and then contact The Law Offices of Paul Y. Lee at 888-748-0025 if you want a free legal consultation with a bankruptcy attorney.

There Are Many Reasons Debt Settlement May Seem Attractive

At The Law Offices of Paul Y. Lee we understand why a person may believe that debt settlement is a better option than Chapter 7 or Chapter 13 bankruptcy. It may sound as though enrolling in debt settlement would get rid of some of the financial issues you are facing. You may have seen high-profile people in the media talking badly about bankruptcy. Those promoting debt settlement often refer to it as the “secret” for settling your debt once and for all.

Finally, paying your debt may feel morally satisfying. Almost no one actually wants to file for bankruptcy – the vast majority of people would prefer to pay their debts. However, it is often not best for the individual or their creditors.

The Debt Settlement Company Gets Their Money First

Make no mistake about it, the vast majority of debt settlement companies are in the business to make a profit – and they will ensure they get their profit before your debts get paid off. In fact, you could make numerous monthly payments before a cent would even go to your creditors – instead they would go to the debt settlement company, who ensures they are paid first. Do you want to pay a company each and still deal with wage garnishments, collection calls, lawsuits, etc.? If not, bankruptcy is a better solution.

Bankruptcy is a Better Option Because It Works

On the other hand, bankruptcy can be done for a flat filling fee plus your attorney’s fees. No matter the amount of debt, the cost is the same. Bankruptcy instantly puts a stop to all collection efforts by your creditors. With debt settlement options, creditors have the right to opt out – that is not the case with bankruptcy. Bankruptcy rules are enforce by a bankruptcy judge, who has the ability to impose sanctions or even incarcerate non-complaint people.

As you can see, there are many reasons that bankruptcy is the better option. To get started, or to learn more about your likely options, contact The Law Offices of Paul Y. Lee at 888-748-0025 and request a free bankruptcy consultation.