The reason that debt consolidation does not work is that it does not get to the underlying problem which caused him or her to get behind: spending more than you make.
Debt consolidation bundles several debts together, spreading the payments out over a number of years, so that monthly payments are affordable. Although this helps many get their debts under control, it does not solve the underlying reason that many get into debt in the first place. As soon as there is an emergency, such as: a car breaking down, an unforeseen job loss, or unexpected medical bill, people run up debts to deal with the emergency and pay everyday expenses.
At Croke & Croke, S.C., we believe that our clients need an overall solution to their debt problems. What does this mean? First, it means finding the best legal solution for you, whether that is Chapter 128 debt consolidation/amortization, debt negotiation, Chapter 7 bankruptcy or Chapter 13 bankruptcy. Second, it means debt counseling to solve the underlying issues, so that our clients are not stuck in a never-ending debt cycle.
Our goal is not just to get you debt free, but to get you a fresh start, so that you can live the life you want.
Originally posted 3/25/15