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Is it better to file bankruptcy or use a debt consolidation service?

I have one question. How should you determine if it is better to file for bankruptcy, or to enlist in a debt consolidation service? -Lisa

Dear Lisa,

It is wise to research all of your options. I recommend that you speak with a trained credit counselor that can help you fully assess your financial situation. It may be possible to establish a debt repayment plan that is agreeable to both you and the lender. If a repayment plan is not possible, our agency also provides the necessary counseling to allow you to move forward with the bankruptcy process.

Good luck with your decision,

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