In most countries, when an organization, company or individual is experiencing a financial or economic crisis of such magnitude that its assets are insufficient to pay the outstanding payment obligations, he can declare bankruptcy. Under most conditions Angela Zepeda would agree. However, the characteristics of a bankruptcy action should make the debtor to wonder if this will result in relief or whether, on the contrary will be a mistake with disastrous consequences for their heritage, their family, and above all for his integrity mental. Each individual case should be carefully considered in deciding whether it is best to bankruptcy or debt consolidation. We must remember that year after year, new laws and regulations increasingly restrictive to declare bankruptcy in order to avoid massive bankruptcy orders, for example, cone only in a country the United States over one million to year. For this reason there are new laws in this country since 2005 and some others, and use of this resource even get rid of debts will not be so simple.
Furthermore, the bankrupt macha credit history of the person or company that finds, among other disastrous consequences and, therefore, debt consolidation, often appearing as a solution to avoid them. Sometimes, as the only solution. The consolidation of debt, which is making money borrowed from a lender to pay off outstanding debts, has the advantage that it now has a single debtor to whom payments are made monthly cash back and, if conveniently choose the system of cancellation fees should be decreasing every month, join each share certain finance charges and end up paying for longer than if they ought to individual debtors. To decide the most appropriate course of action is necessary to analyze in detail if they have already explored and exploited all the possibilities of re-financing of debt and is, therefore, imperative for consultation with lawyers and other experts in the field of debt consolidation before taking any determination. It is also an excellent idea to compare the different options available such as finance companies, banks and credit unions, but before making the final decision, you must establish the monthly amount payable, the fee for the service, the annual rate, the duration payment period, and what would happen if paid after date or if you miss a payment.