Ann Arbor Bankruptcy Lawyers

Michigan Debt Consolidation Attorneys

Debt consolidation and bankruptcy are two very different things. Debt consolidation programs attempt to work with creditors to negotiate resolutions to debt problems. This seems like a great alternative to bankruptcy, except it has some major drawbacks.

First and foremost, debt consolidation provides no legal protection against creditors. It does not stop creditor harassment, foreclosure, repossession, wage garnishment or other actions. Even if the debt consolidation program is successful in convincing creditors to forgive some of your debt, you may find yourself facing surprising new tax consequences because the forgiven debt can be treated as income. Bankruptcy offers a much more solid solution.

For more than a decade, Marrs & Terry, PLLC has offered individualized counsel and legal representation to thousands of Michigan clients in bankruptcy. Contact our law firm online or call 866-665-8095 so we can thoroughly review your case.

Alternatives to Bankruptcy

Many people look for alternatives to bankruptcy. Often, it is because they have a misunderstanding of what bankruptcy actually does. When our lawyers educate people about the realities of bankruptcy, they often agree that it is a solid solution to help them beat debt.

However, we understand bankruptcy is not the right solution for everyone. We can assist with debt negotiation as an alternative. We use our experience to work with creditors to reduce interest rates, extend terms and forgive debt. Unlike the debt consolidation companies that advertise on TV, we are lawyers. We have the legal strength to make agreements stick so they do not come back and haunt you.

Contact Us Today to Obtain a Fresh Start

If you would like to learn more about the negative aspects of debt consolidation, contact us online or call 866-665-8095 to discuss your situation with our experienced Ann Arbor and Wayne County bankruptcy attorneys.