I start with one universal truth: Every single person I have ever met wants to pay their bills and do so on time. Want another universal truth? We are all human and our brains are imperfect and we WILL do imperfect things. Like what? Like start businesses that fail, start relationships that end, suffer mental and physical health problems, lose income, and yes, make bad financial decisions. If you know of anyone who says they have not made bad financial decisions, you may feel free to call them a liar, because they are lying. So, now that we have these two universal truths out of the way, once debt has been incurred how do you go about solving the debt problem for good?
Well, if the goal of life is to cherish, love and protect our families, debt consolidation is a waste of time. Why? For a lot of reasons. First, when you enter into debt consolidation, guess what happens to your credit score and credit profile? Yup, it goes down the drain. And guess who is in control of your debt consolidation payment, you or your creditors? Yup, your creditors. You see, if you don’t pay creditors what they want you to pay them, creditors will just garnish your wages and freeze your accounts. So your family eats second creditors eat first.
Bankruptcy is always the answer. Why? Because it protects your family and allows you to move on with your life quicker, debt free, and without paying taxes on the debt forgiven unlike in debt consolidation. The mistake people make is they conflate the desire to pay back their creditors with the inability to do so and protect your family simultaneously. Please don’t make this mistake!
CONCLUSION
When the time is right, or when you are ready, reach out to Minnesota’s LARGEST bankruptcy law firm at www.kainscott.com. You will be so glad you did!
