Welcome to the Ask SCN Community Forums Global Forum General Discussion Debt consolidation vs. Filing Chp.13/7?

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    My boyfriend is at a crossroads and not sure whether to file for bankruptcy or contact a debt consolidation company.

    Credit card (1)-14,900 @ 24.49% Credit card (2)-6925 @ 24.49% Credit card (3)14200 @ 21.49% Credit card (4)-2000 @ ??? Personal loan-7700 @ ???

    Total debt : 35,725

    Between our monthly bills/ cost of living, it’s proving increasingly difficult to make ends meet with our combined salaries. He makes much more than me, but credit card payments prove to take up a large portion of his income. Which prompted the question of bankruptcy to him.

    He has a car on lease, but besides this nothing in his name (I.e house, car etc). We are in the state of CA


    When individuals have multiple loans, a debt consolidation loan can be obtained to pay them off. The loan can be either secured or unsecured. The objective is to manage payments more easily and save on interest by obtaining a loan with lower costs. If your financial situation has improved, consider seeking a competitive interest rate on a debt consolidation loan, such as from tiffany funding, which I consider the best company for debt consolidation.

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