Avoiding Debt Consolidation Scams

As the number of consumers struggling to repay their debts continues to grow, so does the number of companies claiming to have the perfect solution. Everywhere you look, there are advertisements telling you that you can become debt-free. The truth is that few, if any, of these companies actually provide effective debt relief solutions.

We Represent Clients Across The State

Creditors and others have demonized bankruptcy for decades, making hardworking people feel like criminals for needing help with excessive debt. Debt consolidation and credit counseling companies have not changed that. Instead, they have sold desperate people promises of financial independence without the negative impact on their credit reports. The problem is that few of these companies actually deliver on their promises. The few that do deliver on their promises provide only marginal relief, at best.

Know What You Are Getting Into

Credit counseling and debt consolidation companies are in business to make money first. Actually, paying down your debt is something that happens after they collect their fees. The first several payments are used to pay for the debt consolidation service, with little of it going to pay your bills. Once the company has collected its entire fee, then it begins to use your money to pay down your debts. The problem with this approach is that many people run out of money before they receive any benefit from the service. In the end, they have spent hundreds or even thousands of dollars and are still faced with the same debt issues they had in the beginning.

At Levitt & Slafkes, P.C., we provide reliable debt relief solutions to people across New Jersey. When you decide on bankruptcy as your debt relief solution, you will know upfront exactly what to expect and exactly what the outcome will be. We can help you file for bankruptcy under Chapter 7, Chapter 13 or Chapter 11. If bankruptcy is not the right solution for your needs, we can also help you with alternatives such as loan modifications, debt negotiation or mortgage mediation.

Questions? Contact Us Now For A Free Consultation

Contact our Essex County office today. Debt consolidation scams do nothing but make a difficult situation even worse. You can rely on our attorneys for honest communication and sound advice. You can schedule a free initial consultation by filling out our online form or by calling 973-323-2953.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.