New York Debt Consolidation Lawyers

Interested in Consolidating Your Debt?

If you have a substantial amount of debt accumulating, you may want to consider debt consolidation as an alternative to Chapter 13 bankruptcy.  Debt consolidation and Chapter 13 work much the same way.  The debt consolidation process works by combining all of a person’s outstanding unsecured debts into one large loan.  Now, instead of having to manage multiple accounts and repay multiple creditors, a person just has to make one monthly payment.  The goal of debt consolidation is to make it easier for people with multiple loans to manage and pay off their debts.

Who Should Consider Debt Consolidation?

Debt consolidation may be a good option for you if:

• You have a steady income
• You want to pay off your debts but you cannot afford to pay them off right away or all at once
• You are searching for a way pay off your debts without filing for bankruptcy

Advantages & Disadvantages of Debt Consolidation

Like Chapter 13 bankruptcy, debt consolidation has its advantages and disadvantages. Some of the advantages to debt consolidation include not having to file for bankruptcy, that it does not appear on your credit report, and that there is no deadline for repaying your loan.  There are some disadvantages, however, such as the fact that your loan will have an interest rate, which means you could end up a paying a lot more than you owe if you do not stay on top of your payments. 

Experienced Debt Consolidation Attorney Serving New York

If you are looking for an effective way to manage your debts and get your finances back on track, you should consider speaking with a New York debt consolidation lawyer at Jacoby & Jacoby.  You have nothing to lose by taking a moment to speak with an attorney at our firm about your options.  We have a great deal of experience helping clients throughout New York seek debt relief through consolidation, and would be more than happy to explain how debt consolidation can be put to use for you.

If you are interested in learning more about the debt consolidation process, please do not hesitate to contact an experienced New York debt consolidation attorney at Jacoby & Jacoby today!