Understanding Alternatives to Bankruptcy in New York
Debt Relief and Bankruptcy Protection in Binghamton
Many people are leery about filing for bankruptcy and wish to pursue bankruptcy alternatives. Some of these alternatives may allow people to get the financial help they need without damaging their credit. It is important, however, to analyze these bankruptcy alternatives with an experienced attorney to make sure that they are not causing more harm than good.
At Orville & McDonald Law, we are always honest with our clients about the benefits and consequences of filing for bankruptcy. If bankruptcy is not in your best interest, we will not recommend it and may offer an alternative to filing for bankruptcy.
We will also be honest about these bankruptcy alternatives and what they can offer you in terms of debt relief and protection from creditors Link to Stop Creditor Harassment. There are many companies that prey on the misfortunes of those in debt and are looking to capitalize on their desperation.
Debt Restructuring and Consolidation
Most people have seen or heard television and radio ads that talk about debt restructuring or debt consolidation plans that offer people a way out of debt without having to file for bankruptcy. Many times, these plans offer to negotiate with creditors for lower payments, and the debtor must then make a monthly payment to the debt consolidation company until the debt is settled.
While these programs may sound great, especially since they do not carry the stigma of bankruptcy, they are often dishonest, ineffective or downright illegal. Not all programs fall into these categories, but more often than not, these companies are simply looking to squeeze money out of people who feel they have nowhere else to turn. They take advantage of people, and rarely help them out of debt.
There are a few reputable organizations that provide repayment plans and debt negotiation with creditors that can help you out of debt. In Central New York and the Southern Tier, the Consumer Counseling Center of Central New York (CCCS) has offices in Syracuse and Binghamton and offer an honest assessment of your situation.
It may be more beneficial, however, to contact Link to Contact Us a lawyer at Orville & McDonald Law to get an honest assessment of your situation. We will let you know if debt negotiations, consolidations or other bankruptcy alternatives may work for you, or if bankruptcy is the best option for you.
Call us at 607-770-1007 or toll free at 866-935-7708 for consumer bankruptcy protection and debt relief.