Fort Lauderdale Debt Relief Attorney

Debt Counseling and Filing for Bankruptcy in Ft. Lauderdale

Debt counseling is done by non-profit groups founded to assist individuals to get out of debt. Debt or credit counseling groups exist all over the United States and for the most part do a decent job of executing their duties. According to the National Foundation for Credit Counseling this is what you can expect from their certified consumer credit counselors:

• Advise you on financial management
• Offer solutions to your current financial problems, including bankruptcy
• Develop a plan to help prevent future difficulties
• If the debt is severe they will evaluate if you are eligible for a Debt Management Plan

What they do not do is to negotiate on your behalf with creditors to get you accepted onto a plan, to lower your payments, to get a better interest rate or to reduce your debt. The interest rates for Debt Management Plans are established by each bank and remain the same for each debtor. You also must make enough to maintain a plan until you are out of debt, which is usually about 36 months. These plans unfortunately suffer from a low completion rate. Most individuals fall off within months as the underlying problems were never addressed. A Fort Lauderdale bankruptcy lawyer can help you to make decisions about how to get a fresh start and get your finances under control.

Get an Individual Strategy for Debt Resolution

This type of program sounds great if you are delinquent on your payments and the interest rates have gone sky high. However there are some cautions:

• Your credit will be very negatively impacted
• Credit cannot be used during this program and most cards are suspended or cancelled
• Payments must be made regularly or you will be kicked out of the program
• Payments are taken by direct withdrawal by the Credit Counseling Group and one must follow up to ensure that they are actually received by the creditors
• A monthly fee is paid to the Counseling Group
• A program lasts for years in most cases

At the McCue Law Firm we know that this could be effective in some cases, but also we have witnessed the many failures of clients that come to us from unsuccessful attempts to eliminate their debts through this process. We are determined to help our friends and neighbors throughout the Ft. Lauderdale are to get solutions that work for their individual case. We will find the debt relief strategy that has the most opportunity for reducing your debt and getting you back on track financially..

Get information about debt counseling, bankruptcy and all other debt relief options from a trusted Fort Lauderdale bankruptcy lawyer from our firm.