Debt Consolidation and Debt Forgiveness

Debt Consolidation and Debt Forgiveness in Ohio

Outside of Bankruptcy Court, "Anything Goes"

Aggressive debt relief companies have notched up both their marketing and their business since the U.S. entered a recession in 2008. At Minnillo & Jenkins this concerns us.

Why? Because, outside of bankruptcy court, "anything goes". Self-styled debt relief, "debt settlement" and "debt consolidation" companies can make broad and often unsubstantiated claims regarding their ability to help people facing unmanageable debt. The reality, though, is that debt relief companies have little leverage in negotiating with creditors and in actually discharging customers' excessive debt.

The way in which debt relief companies conduct business has led, in many cases, to questionable or ineffective results for countless customers, at considerable cost. For instance:

  • Some companies use customers' first six monthly "debt consolidation payments" exclusively to pay for their own fees
  • Because debt relief companies rarely employ attorneys or tax professionals to work with customers, their customers can face unanticipated tax charges when forgiven debt becomes part of the debtor's taxable income

Instead of gambling with debt relief companies often hollow, disappointing or even false promises, put the power of bankruptcy laws and trained attorneys, to work for you. Chapter 7 bankruptcy can quickly reduce your debt burden, and Chapter 13 bankruptcy can reduce both your monthly payments and, ultimately, eliminate your debt. And the bankruptcy process requires creditors to participate in debt discharge proceedings; if they don't they will be shut out from any repayment opportunities. Debt settlement companies depend entirely on the willingness of creditors to voluntarily reduce your debt.

Contact Us -Serving Cincinnati

For effective counsel regarding real debt consolidation and debt relief, contact the Cincinnati, Ohio, bankruptcy law firm of Minnillo & Jenkins. We provide free initial consultations and charge affordable, competitive rates. To schedule a free initial consultation with a bankruptcy lawyer at Minnillo & Jenkins, call 513.723.1600 or contact us online.

We have five convenient offices with free parking to serve you. Evening and weekend appointments available.

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