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Bankruptcy Vs Credit Card Debt Consolidation - Which Alternative is the Better Option?

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As a consumer, the simple fact that you are even considering or mentioning bankruptcy should scare you right out of your shoes.
As many people who have been through that tough process can tell you, it is not for the faint of heart and it figures to be one of the most excruciating experiences of your life if you have to head that direction.
Standing in front of a judge and letting the world know that you are financially finished is embarrassing and it is something to avoid at any and all costs.
Luckily, you don't have to endure that if you do not want to.
If you are smart, you can get around that before it ever comes to that point.
So what is a better option when you are underneath a pile of debt that is so large that you can not even peek out? You'll be glad to know that many people have taken solace in the idea of debt consolidation.
If the issue has to do with high rates and just being overwhelmed by too many credit cards, then this is relatively easy to fix.
Comparing consolidation and bankruptcy should leave you with the knowledge that consolidation is better on almost every level.
Do not let people convince you that you are done financially, because consolidating debt can really be a good start.
The nice thing for bewildered consumers out there is the program that comes with the consolidation.
Debt relief companies, at the urging of the government, are really taking this seriously.
They want people to be able to get out of debt and stay out of debt.
This has led them to include a fairly comprehensive credit counseling item to the consolidation plan that you've been targeting.
This is worth noting because it usually comes free and it can lead to some nice changes in your credit approach for the future.
Consolidation should be the precursor to bankruptcy and do not let anyone tell you anything different.
Though the situation might seem somewhat hopeless now, it will be much better when your rates are lower and there are not as many collection calls.
The letters stop coming to your house, the stress backs down a little bit, and you can start living once again.
It can still take time to pay off the consolidator, but at least you won't be under enormous pressure to do so.
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