Debt Consolidation Company vs. Bankruptcy Lawyer

Debt Consolidation vs. Bankruptcy

Every day, more and more companies are entering the market offering to consolidate your debt. These companies refer to their "experts" by many different names, including consumer credit counselors, debt adjusters and many others. In every case, though, the message is the same: "We can save you thousands of dollars and get you out of debt faster." They make it sound so simple.

Some people who hire these services to lower their debts make monthly payments with the understanding that the funds will be used to pay down the credit card debt or other bills they might have. In many cases, though, the company keeps the monthly payments as a "service fee" and uses only a small portion to pay toward your debts.

Under New Jersey law, the people providing debt consolidation services must be licensed by the New Jersey Department of Banking and Insurance in order to legally do business here (New Jersey Statute Sections 17:16G). Most of them are not and are committing a fourth degree crime by dealing with New Jersey consumers (New Jersey Statute 2C:21-19f). In most cases, you are likely throwing your money away. If you are dealing with an out-of-state company and have paid them money, you may be able to recover it and triple damages and attorney fees through a New Jersey consumer fraud claim.

Consumer Bankruptcy May Be a Better Option

At the law offices of William H. Oliver, Jr. & Associates, we dedicate our practice to debt relief through bankruptcy. We have been helping people throughout the state for more than 35 years. When you hire our firm, your lawyer will explain exactly what we are going to do for you and make sure you have all the information you need to make an informed decision before we proceed.

Bankruptcy provides real solutions to real financial problems. We will be completely honest with you about the pros and cons associated with bankruptcy, and we will never hide anything from you that might impact your decision. By filing for Chapter 7 or Chapter 13 bankruptcy, we can protect you from aggressive bill collectors, stop foreclosure and other lawsuits.

Free Consultation With a Toms River Loans and Bankruptcy Attorney

With offices in Toms River and Neptune, our Monmouth County debt consolidation attorney is prepared to help identify the best solution for your debt relief needs. Evening and Saturday appointments are available. Call toll free: 1-866-974-1136 or fill out our contact form. Hablamos español.

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