mortagesandforeclosures

by Chuck R Stewart

Debt consolidation or bankruptcy? Which is better for you for your future? You've accumulated high debt balance through credit card purchases, a home equity loan, a large car payment, and a mortgage with an adjustable rate on a house that has lost value. On top of all that, you have some medical bills. Creditors and collectors are hounding you. You're not answering the phone. They are trying to get to you through your family. Your family is mad at you for that. You are embarrassed that you cant live up to your obligations, but you just got downsized. You don't want to lose your home and your car. That would put you in utter ruin. So, what should you do, consolidate or declare bankruptcy? It might seem that the more honorable thing to do would be to consolidate so you can pay your obligations rather than just blow them off Here's the advice of a Houston bankruptcy attorney. It is often better to draw the line on the debt so you can start fresh. If youre in Houston stop foreclosure by following this advice.

If you choose to consolidate your debt and continue paying your bills, you may end up in a bad, never-ending situation in which you pay and pay and pay, and all you're doing is paying interest. If thats all you're doing, you'll be making your debtors rich while keeping yourself in a hole from which you will never emerge. It may seem the honorable thing to do, and clearing your obligations is a good thing to do. But this plan can lead to your losing the most important things, which are your home and your car. How can you survive without these necessities? Youre on the street, but you still have your honor. Unfortunately, your honor wont feed your kids.

When things seem hopeless, the best choice might be to bite the bullet and wipe your slate clean. Nobody wants the stigma of bankruptcy, but sometimes it is a tough choice that will leave you better off sooner through a fresh start rather than later as you slog through the swamp of interest payments. Here's the thing about bankruptcy: During the process, you can normally keep your home and your car. These are the two most basic things you need. You have to have a place to live, and you have to have a way to get to work. Of course, through this bankruptcy process, you need to have an attorney. The attorney can help you to sort out what you can keep and what you owe. He or she can also assist you in recovering your good credit rating in the least of time. It may surprise you to know that this can be as little as two years.

So, as you can see, care must be put into the decision of whether you will consolidate your debts or declare bankruptcy. And, remember, a good Houston bankruptcy lawyer is your best ally in making this decision.

It is never a lost cause. Investigating your options today could help pave the way to a better and brighter future.

About the Author:

Chuck recently spent time researching law firms with a expert in Houston stop foreclosure and Houston bankruptcy attorney on staff. In addition, he researched law firms with a Houston bankruptcy lawyer on staff.

Get all the information and photos:: http://mortgagewide.info/rely-on-a-good-bankruptcy-attorney-for-advice-on-solving-your-debt-problems/