Debt Consolidation vs. Chapter 7 Bankruptcy

Dan Guenther

In this video, Mr. Guenther explains the difference between debt consolidation and Chapter 7 Bankruptcy.

Debt consolidation and Chapter 7 bankruptcy are not the same thing. Waldorf Maryland Bankruptcy Attorney, Daniel J. Guenther, explains the difference between the two.

Daniel has practiced bankruptcy law in Southern Maryland for over 33 years. In this video, he explains the difference between debt consolidation and a Chapter 7 bankruptcy. This is a question often asked by his clients.

debt consolidation

As Daniel explains, there is actually quite a bit of difference. In debt consolidation, you usually try to negotiate with your creditors to get them all to accept some form of repayment plan and to reduce the amount you owe or perhaps the interest you pay. But, you do usually repay your creditors a large portion of what you owe.

 

Typically, in a Chapter 7, you end up paying your unsecured creditors nothing.

Conversely, in a Chapter 7 bankruptcy, it’s pretty much the opposite. Typically, in a Chapter 7, you end up paying your unsecured creditors nothing. Many of Dan’s clients have used a Chapter 7 bankruptcy to get a fresh start by getting completely out of debt, keep their assets and start a new financial life. 

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(301) 475-3106

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Protect: Home, Business, Property, Auto

Stop: Creditors, Harassment, Repossessions, Foreclosures, Wage Garnishments, Foreclosure, License Suspension, Tax Levies

Keep: Your Home, Your Car, Your Wages, Your Furniture

Call today to see if you quality for chapter 7 personal bankruptcy.
(301) 475-3106
You can have a fresh start.

Law offices of Dan Guenther
Bankruptcy Lawyer

Related Articles

If you or a loved one is facing economic and financial hardships, contact Maryland Chapter 7 and 13 bankruptcy attorney, Daniel J. Guenther, (301) 475-3106. With over 42 years of experience, The Law Offices of Daniel J. Guenther can help you determine if filing for bankruptcy is the right step for you. We have office hours at both our Leonardtown and Waldorf offices.

Nothing on this website is intended to be legal advice. Contact me for legal advice. Our past success is no guarantee of your success.

Debt Consolidation vs. Chapter 7 Bankruptcy

Dan Guenther

About the Author

Mr. Guenther’s experience as a bankruptcy attorney is extensive. His representation includes individual, joint, and business bankruptcies. (Chapters 7, 11 and 13). Currently, he is counsel of record in over 150 bankruptcy cases presently pending in the U.S. Bankruptcy Court for the District of Maryland.

Discount CouponFast Debt Relief

Protect: Home, Business, Property, Auto

Stop: Creditor Harassment, Repossessions, Foreclosures, Wage Garnishments, License Suspension, Tax Levies

Keep: Your Home, Your Car, Your Wages, Your Furniture

Call today to see if you quality for chapter 7 personal bankruptcy. You can have a fresh start.

(301) 475-3106

Law Offices of Daniel J. Guenther

Bankruptcy Lawyer

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