Is debt consolidation legal?
Date: Thu, 08/03/2017 - 06:06
Is debt consolidation legal?
I have multiple debts to pay off. I’ve heard that consolidation can be a suitable option. However, is it a legal option to repay debts? Can a debt consolidation program help if a creditor has filed a lawsuit?
Ofcourse debt consolidation
Ofcourse debt consolidation is a legal option.
And about your second query - It'll depend on the creditor or the debt collector. if your credit counseling agency negotiate well with them, they might withdraw the lawsuit.
Yes. It's a legal debt relief
Yes. It's a legal debt relief option. Only bankruptcy can help you in this situation since it imposes automatic stay. How much debt do you have?
Yes, debt consolidation is
Yes, debt consolidation is legal. If the creditors agree to consolidate the debts out of court, they may cancel the lawsuit against you. If they don't agree, you can't consolidate your debts. The debt will be paid through the wage garnishment or lien.