Debt Consolidation in New York
If you have accumulated multiple debts with interest rates, whether it be from credit cards or some other type of loan, then you may want to consider consolidating your debts. This can result in fewer payments and lower rates of interest. Read this article to learn how our Buffalo attorneys can assist you with debt consolidation in New York.
Debt Consolidation in New York | Reasons to Consider Consolidation
Debt consolidation combines multiple unsecured debts into a single monthly payment. Contact our office today to arrange a free consultation, and we will be able to discuss with you the many advantages of pursuing this process. Common reasons for debt consolidation include:
- Too Many Bills: If you have several credit card bills due each month, it may be hard to keep track of your payments. When this occurs, it becomes easy to miss your due dates. Debt consolidation combines your debts, so you only have one bill to pay each month.
- High Monthly Payments: Debt consolidation can lower your monthly payments.
- High Interest Rates: By combining your debts into one payment, your interest rates will be significantly lowered.
Debt Consolidation in New York | Factors to Consider
It is important for you to understand that debt consolidation companies are businesses. And like any other business, their primary concern is profitability. While debt consolidation can be beneficial for some people, it can damage your credit further. There is also no guarantee that debt consolidation will lower your monthly payments. Our experienced Buffalo bankruptcy attorneys can help you determine whether debt consolidation is the right option for you.
Debt Consolidation in New York | Alternative Options
Chapter 13 bankruptcy can be an effective alternative to debt consolidation, allowing you to pay off your debts faster. This type of bankruptcy lets you create a plan based on your income and expenses, resulting in monthly payments that are often less expensive than those associated with debt consolidation.
If you are interested in New York debt consolidation, you will need an experienced Buffalo bankruptcy lawyer to assist with this process. Contact any of our three offices today for a free consultation.
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