In most cases a Bankruptcy is a better alternative to a home equity loan to get rid of unsecured debt.
In a bankruptcy, you can protect $18,450 per person in equity in your home and eliminate your unsecured debt.
Unlike bankruptcy, if you get sick, lose your job or can’t make your equity loan payment for any reason you risk losing your home through foreclosure.
In some cases, filing a bankruptcy can make you more attractive to potential lenders. Receiving a bankruptcy discharge will improve your debt to income ratio, instead of damaging your credit by incurring more debt.
In most cases, the fees for a bankruptcy are less than your closing costs to obtain a home equity loan.
In a bankruptcy you pay no interest on unsecured debts. No mortgage lender can offer you a similar arrangement.
Protect your equity. Protect your home. Prepare for life after debt…
Contact an attorney at the Debt Doctors at 1-877-Debt Dox.