Debt consolidation is a solution over bankruptcy?

Discussion in 'Credit Talk' started by jhones.ham, Sep 13, 2009.

  1. jhones.ham

    jhones.ham Member

    Hi all,

    Bankruptcy is impressive so as to people think essential at what time they start to suffer that they are incapable to pay the late payments on their unusual loans or credit cards.

    So my question is Debt consolidation is a solution over bankruptcy?
  2. enigma

    enigma Well-Known Member

    It is as long as long as you can get all of your creditors on board, and as long as you are not a target of a lawsuit.
  3. cap1sucks

    cap1sucks Well-Known Member

    So in other words we are left with two great big IF statements. Historically that seems to be an untenable supposition. In my personal opinion both fall into the same category as Google's new free internet service that I posted about yesterday.
  4. enigma

    enigma Well-Known Member

    You negotiate with those who are willing to accept something over not receiving anything at all. You include favorable terms as to reporting and 1099. If you are insolvent, a 1099 has no significances.

    Those who refuse to negotiate you wait out, if they file suit you file BK, unless of course you are in one of those states that are favorable to consumers such as FL or TX.

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