Credit Management Companies 101

Everyone has seen those ads by debt management and consolidation companies that promise to get your bill balances lowered by up to half. In many cases, these offers sound too good to be true, and in fact, they often are. Unfortunately, many credit management companies are telemarketing scams and even the reputable ones can only do so much to help you clear up outstanding debts. If you are serious about wanting to legitimately deal with your debt, your best option is to speak with a reputable bankruptcy lawyer about your alternatives.

At Bryan P. Keenan & Associates, P.C., we understand the lure of the debt consolidation commercials, but we are committed to helping people find better options to resolve their financial problems. We understand that every person's story is unique, and we believe in crafting representation and strategies tailored to your individual needs. Our strong commitment to personalized service sets us apart from other firms and services that treat clients like numbers, commissions or quotas.

Get personalized help during this difficult time

Call our Pittsburgh law firm today at 412-923-4941 to schedule a free consultation to discuss your options.

Here are just some of the problems with debt management companies:

  • Interest continues on your outstanding balances even once you begin making payments to them.
  • There is no flexibility once you begin working with them.
  • They often demand a certain percentage of the balance upfront.
  • There is no protection from additional lawsuits, such as credit card companies that have four years to sue from the date of your last payment or a promise to make a payment.
  • They may pick and choose which credit card companies or other debtors to try and settle your debts with.
  • Payments are often "bumped up" to demand a larger amount after the first few payments are made at the lower rate you were initially promised.
  • Debt plans still end up on your credit report.

Many debt consolidation services try to scare people about bankruptcy, but the truth is that bankruptcy offer many advantages that these companies do not. Our debt management attorney will help you understand these advantages as well as answer any other questions you have about debt management companies, creditor lawsuits or other issues you are concerned about such as stopping foreclosure.

Start The Path To Lasting Debt Relief

If you are ready to let go of your financial burdens, we can help. Get started with a free consultation at our Pittsburgh office. To arrange yours, reach us online or call 412-923-4941.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.