At the Law Offices of Ronald I. Chorches, a debt consolidation lawyer Waterbury, CT residents trust is familiar with handling people’s finances. In debt consolidation, what happens is you combine yoru unsecured debts and then pay it off slowly through monthly payments. The entity handling your consolidation will take the payment and disperse it between creditors. Essentially, a lender gives you a new loan that pays off the old loans and then you submit one monthly payment to that new lender. The new loan will have interest, so you will have to pay the total of your past debts plus interest. This may sound appealing to many people, however, it is important to be wary of what company you choose to handle your consolidation. There may be high interest rates and penalties added in, making your total debt significantly higher than if you dealt with each old debt individually. When choosing the right consolidation plan for you, it helps to have a lawyer review the fine print first.
What To Look For
Be forewarned that some companies for debt consolidation are not lenders. So they will not give you a brand new loan that covers old debts, instead they collect a monthly payment from you and then keep a percentage for themselves. Such programs can surge people into further debt and hurt their credit. Be sure to only go to a lending institution that is accredited and reputable in debt consolidation.
A bankruptcy lawyer Waterbury, CT community members rely on from the Law Offices of Ronald I. Chorches may recommend debt consolidation if a person carries debt that has high interest rates, and the loan from an accredited lender will be able to provide a lower interest rate and reasonable monthly payment. In this scenario, it may be a great solution to do the debt consolidation.
How We Can Help
You may be asking yourself how a lawyer can help you in your debt consolidation. Well, we can negotiate the pay-off total for each creditor you have. We also can negotiate to have your high interest rates removed, the compound interest accumulated over time eradicated, and late fees or over limit penalties erased. As you can imagine, it can surely help your case if you have a legal professional to oversee your debt consolidation. Trust us when we say that these companies are not out for your best interest, and we will make sure the consolidation is going to impact you positively in the long run.
The Law Offices of Ronald I. Chorches
We understand that you may have debt looming over you on a daily basis. You may feel pressure to pay your debts off, but with interest rates and other penalties you are struggling to keep up. If you are in need of advice regarding consolidating your debts, don’t hesitate to call the Law Offices of Ronald I Chorches for help from a Conneticut debt consolidation lawyer in Waterbury right away!
