Indiana Bankruptcy Attorneys - Credit Counseling Services
At the law office of Boruta, I concentrate practice on bankruptcy and debt relief matters. Although I believe that bankruptcy is a preferable option to credit counseling in most cases, I understand that for some people bankruptcy is just not the answer.
If you are thinking about credit counseling, sometime referred to as debt settlement, visit my law office for a side-by-side comparison. I can provide you with the information you need to make an informed decision.
I have law office in Indianapolis, Avon and Fishers, Indiana. I am pleased to serve clients statewide throughout Indiana. To schedule a free consultation with an attorney at my firm, contact me call 317-748-1168, or by e-mail.
How Does Credit Counseling Work?
You have seen the commercials on television. They tell you that you will pay just pennies on the dollar and it will not hurt your credit.
Well, that is not the whole story. For people who have a small amount of credit card bills, say $10,000 or less, there may be situations where credit counseling/debt settlement is a viable option that may provide a benefit.
But if you have significant credit card debt, bankruptcy may be a better option for you. With a Chapter 7 bankruptcy, you may be able to discharge all of your credit card debts, medical bills and other unsecured debts.
With credit counseling, you do not get a discharge from the federal government that is backed by the power of law. What you may get is a reduced monthly payment that allows you to stay afloat and avoid bankruptcy if you do not have significant debts. So, for some people it can be helpful. But there are risks and limits to credit counseling that you should know.
Because I handle both, I have no reason to make false promises about credit counseling or downplay its limitations. I can give you a straight-forward assessment of credit counseling and bankruptcy and let you make an informed decision for yourself about what is the best answer for you.