Florida Debt Consolidation Attorney

Failing to keep up with the monthly bills can create enormous pressure on a family. Creditors will often harass borrowers, file lawsuits, and take other aggressive actions to try and collect a debt. Florida Law Advisers, P.A., is dedicated to helping families and individuals solve their financial problems and end creditor harassment. Some bankruptcy attorneys will say that bankruptcy is the only solution because that is the more profitable option for their own law firm. At Florida Law Advisers, P.A., helping our clients is our primary goal and we provide you with information on many different ways to solve your debt crisis. We develop comprehensive strategies based on each client’s particular circumstances to help provide long-term solutions. Bankruptcy is a great tool for borrowers falling behind on their bills but it is not the only option, and sometimes debt consolidation, debt reaffirmation, debt settlement or other debt relief measures are more effective than bankruptcy in Florida.

If you need a bankruptcy attorney in Orlando, you can visit our office to get more information.

Advantages of Debt Consolidation

Debt consolidation is the process of getting one large loan to pay for all of your outstanding debts. Debt consolidation in Florida is beneficial because the interest rate for the consolidation loan may be much lower than the interest rate you are currently paying on your debts. The consolidation loan may also extend the time you have to repay the debt, resulting in a lower monthly obligation. In addition, most borrowers prefer to have just one payment each month, rather than having multiple bills they need to worry about.

Drawbacks of Debt Consolidation

Some lenders may try exploiting your situation to earn a large profit at your expense. Debt consolidation loans can have high origination fees and other hidden costs. Also, some debt consolidation loans will have a variable interest rate. Variable rates are good when interest rates in the economy are low; however, the rate can rise very quickly, with little notice, and drastically increase your required payment.

Debt consolidation lenders in Florida also typically require borrowers to give collateral for the loan. The most common type of collateral in debt consolidation loans is the borrower’s home. In order to use the home as collateral the home must be worth more than the debt consolidation loan and any other mortgage on the property. With the recent drop in home prices, most homeowners looking for debt consolidation loans in Florida will not have enough equity in the property to qualify for the loan.

Consult a Debt Consolidation Lawyer in Florida Today

We understand these are very difficult times for you and we are here to help. At Florida Law Advisers, P.A., our professional bankruptcy attorneys will work closely with you to develop a comprehensive legal strategy to help alleviate your financial stress. We are experienced in all bankruptcy and debt relief matters and are dedicated to helping our clients regain their financial health.

Our initial consultation is free and we offer flexible payment options to all of our clients. At Florida Law Advisers, P.A., we strive to provide you with solutions, not add to your financial burden. We accept many forms of payment and offer our bankruptcy clients the choice of either a low-cost flat fee or a low-cost hourly fee for bankruptcy representation. Contact us today by phone, email, website form, or website chat to schedule your free consultation with a debt relief attorney at Florida Law Advisers, P.A.

If you need assistance with debt consolidation in Orlando, get in touch with our experienced attorneys.

Frequently Asked Questions