Amy L. Buchanan - Attorney

Question: I have significant credit card debt. Should my first step be to try a debt consolidation company? JS - Pittsburgh

Answer: Simply put, Debt Consolidation (DC) or Debt Settlement (DS) companies do not work. They are predatory by nature. DC and DS companies were formed by the credit card companies to provide an alternative to bankruptcy that only benefits the lending institutions. At its core DC and DS is flawed because it expects the consumer to pay his/her credit card balance plus high fees on top of that. Most consumers can't pay their credit cards to begin with and this is why consumers in DC and DS only complete the plan 10% of the time.

Once the plan fails most consumers waste precious time and resources and have nothing to show for it. If you are considering a DC or DS plan don't do it. Bankruptcy is a real option that can eliminate or reduce your debts 100% of the time. The best first step is to call one of our attorneys today.

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