Cincinnati Bankruptcy Attorneys
Debt consolidation companies promise financial freedom and debt relief without resorting to bankruptcy, but there are many pitfalls to this approach. Before you sign on with a debt consolidation agency, take time to learn about your options. It could save you thousands of dollars and untold headaches.
Zingarelli & Lawrence is a law firm that helps people in Ohio and Kentucky get debt relief while protecting their rights. In a no-obligation consultation, a lawyer at our firm can review your situation and provide you with information about debt consolidation agencies and the bankruptcy process.
Get the facts about your debt relief options. Contact Zingarelli & Lawrence today.
Debt Consolidation vs. Bankruptcy
Debt consolidation agencies use two general approaches:
Lump sum settlement approach — While you make monthly payments into an escrow account, the agency tries to work out an agreement with your creditors to settle your debts for a lump sum.
Payment consolidation approach — The agency contacts each of your creditors to get them to accept monthly payments in exchange for agreeing not to file a collection lawsuit.
In both approaches, you may be able to obtain debt relief, but it comes with costs and uncertainties. Most importantly, your rights are not protected. Nothing except bankruptcy prevents a creditor from moving forward with a collection lawsuit. You could end up paying thousands of dollars in agency fees and payments to creditors and still have your bank account garnished in satisfaction of a judgment.
In contrast, with bankruptcy you will know upfront what your costs will be. An attorney will protect your rights at all times during the bankruptcy process. Creditors will be prevented from pursuing garnishment and collection actions. You will know with certainty how long the process will take and the outcome you will achieve.
Experienced Bankruptcy Lawyers Serving Ohio and Kentucky
Zingarelli & Lawrence can handle all aspects of your bankruptcy filing for a reasonable flat fee. We will work hard to help you obtain maximum debt relief while enabling you to keep as much property as possible. Zingarelli & Lawrence has helped hundreds of people in Ohio and Kentucky get a fresh start — and we want to help you.
No-Obligation Consultation — Contact Us Today
For a no-obligation consultation with Zingarelli & Lawrence, contact our firm.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
