Bankruptcy or Debt Consolidation?

edited May 2018 in General

Hi Kain & Scott,

I have 17k in credit card debt and wondering if it would be better for me to file a bankruptcy or do debt consolidation? I contacted a debt consolidation company and they keep hounding me about it so now at this point i'm really unsure. I just really would like to do something soon because i'm so sick of people hounding me for money and it's hard enough for me to even put food on the table, let alone pay off these credit cards that keep racking up tons of interest.


  • Hi DJohnson- thank you for having the courage to reach out to Kain & Scott. That is a common question we get at Kain & Scott. Frankly- we think traditional debt consolidation is a waste of time. Why? It looks horrible on your credit and you pay taxes on any unpaid debt and you don't get your life back for years. The government actually has a government sponsored debt consolidation plan- don't worry, most people don't know about it- where you make payments back for a limited time (3-5 years) and any unpaid balance gets wiped out tax free, So you may be able to pay say 7k and the balance of 10k gets wiped out - tax free. I would tell you to error on the side of getting your life back as soon as possible. I have high anxiety- I don't mind problems but I can't have no solutions. And for me, delayed relief is no relief. Of course, a Chapter 7 is like hitting a reset button. Boom- you have your life back in 4 months. Thanks again for reaching out and ask if you have more questions! Wes

  • edited May 2018

    Ok well that sounds way better than debt consolidation. Could you tell me more about how I get started and what you need from me? Also, is there any way to get these people to stop calling and harassing me for money? It's really causing a lot of stress on me and for my family.

  • DJohnson- I am sorry you and your family are going through this. After you have cruised our website, send us an email asking for a FREE "strategy Session". We can speak with you in person, by phone, skype, or even facetime. After you speak to us and we sign you up, we want you to refer all your creditors to us. Once you retain us we become your shield and protect you from your creditors. No one regrets filing bankruptcy, they regret waiting so long! Wes

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