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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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49k in debt credit counciling of bankrupcy

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49k in debt credit counciling of bankrupcy?
Hello mokie,

What exactly is your question?

Customer: replied 7 years ago.

is credit counciling better than bankrupcy?

I have requested that your question be moved to our bankruptcy law forum

Customer: replied 7 years ago.
thank you
No problem
Credit counseling can mean either debt settlement or debt consolidation. If the lenders reduce what is owed, the final result if paid will show as settled, less than full on the credit report, and can make a taxable event to you. Chapter 7 bankruptcy discharges debt and gets people back on track much quicker. Many debt consolidations fail, and not all creditors have to accept them. If you chose that over bankruptcy, check the better business bureau for recommendations. Preferrably a non-profit company will have your best interests at stake. I see many people file chapter 7 bankruptcy that have already tried debt consolidation too.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
Terry L. and 2 other Bankruptcy Law Specialists are ready to help you