Archive for April, 2005

Is Credit Counseling Better Than Personal Bankruptcy?

As with most questions, the answer to this question depends on your personal situation.  If you have a manageable amount of debt, but just need some time to repay it, credit counseling is probably the answer for you.

On the other hand, if your creditors are taking you to court, or are in a position to garnishee your wages, or if your debts are too large to ever be paid back, personal bankruptcy may be your only option.

We suggest that you consult with a bankruptcy attorney and a credit counselor to review your options, and then based on all of the facts, decide which option is best for you.