If you’re struggling with debt, you may be considering debt invalidation. But this isn’t always the best solution. Credit counseling can be a good alternative to debt invalidation if it helps you pay off your debts and stay on track.
Invalidating debt is appealing, but it’s not always possible.
Before you start thinking about invalidating your debt, it’s important to understand that there are very specific circumstances under which this is possible. If you’re considering this route, make sure you have:
- A bankruptcy filing on the table;
- Enough income coming in to cover your basic living expenses;
- No assets (or not much); and/or
- A good reason for not filing for bankruptcy (if applicable).
Credit counseling can involve debt consolidation which can help you stay on track.
Credit counseling can help you get back on track.
If you’re facing debt that is overwhelming, credit counseling may be the best option for you to consolidate your debts and get a fresh start. You can create a budget with a counselor and learn how to manage your money better in order to avoid future debt. Credit counselors also offer budgeting classes that teach people how to save money and live within their means.
You should carefully consider the credit counseling service before agreeing to work with them.
You should carefully consider the credit counseling service before agreeing to work with them. If you do not feel comfortable with the company, or if they don’t seem to be offering good services, then it might be better for you to pursue debt invalidation instead of credit counseling.
When choosing a company for your debt resolution needs, ask yourself:
- How long has this organization been in business?
- Do they have positive reviews from other customers?
- Can I get in touch with someone directly who can answer my questions about their services?
To invalidate your debt you need to be in bankruptcy and there are often other downsides to bankruptcy, so credit counseling may be a better alternative.
If you’re in a situation where you feel as though your debt is crushing you and you’re looking for help, it’s important to consider all of your options before making a decision. A lawyer can help you understand what kind of debt invalidation is right for your situation, and a credit counselor can advise on credit counseling. If at any point during this process, things don’t seem right or if something doesn’t feel like it’s going the way it should, then that’s probably because they aren’t! Don’t be afraid to ask questions or switch up who/what you’re working with until things start to move forward smoothly and efficiently.
Credit counselors offer services like debt management plans (DMP), which are designed to help people manage their finances by paying off debts over time rather than all at once. They also provide budgeting advice so that people can pay off their debts responsibly without having them drag out over years and years—or decades!
If someone decides not take advantage of the services offered by credit counselors because they think an invalidation strategy will work instead…well…they might want reconsider their choice after all
So, to summarize: debt invalidation is a good option for those who can afford it, but not everyone has the luxury of being able to pay off their debts in full. Credit counseling can help you consolidate your loans and get back on track with your finances by teaching you better money management skills. It’s important that you carefully consider which service will work best for you before signing up though!
Disclaimer: This article is for informational purposes only and is not intended as legal or tax advice. Talk to a licensed tax consultant or attorney about your own specific situation.