Medical bankrupt v.s. debt consolidation?
Question:
Answer:
when you file bankruptcy your medical bills are counted as unsecured. this means that if you owe $100 you end up paying back $1. This helps out a lot if you owe a large amount.
when you do debt consolidation you are usually still paying the full amount back.
a lot of people file bankruptcy for just medical bills.
Bankruptcy will get you out from under the weight of the debt. Consolidation will have you paying it forever. There are other things to consider with the bankruptcy and the laws have changed in the last year. Call a bankruptcy lawyer with a free consultation. Vote for candidates who support Nationalized Medicine in the U.S. like Canada, Mexico and England have to name a few. If we had Nationalized Medicine you wouldn't be in this mess in the first place!!
Call a bankruptcy attorney and get an appointment. Just remember, however, that the bankruptcy will remain on your credit report for YEARS. I'm still in the process of cleaning up my credit score after my ex-husband forced us into bankruptcy five years ago.
Good luck
Bankruptcy may look appealing and you'll feel better for a short while, but it will affect your life, via your credit for many years (up to 10 years)
For some potential help visit http://www.too-many-debts.com/
Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.
Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.
Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.
In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.
If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:
http://axalda.info/debt-consolidation.ht...
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