Bankruptcy vs. Debt Consolidation

Bankruptcy

What Is Debt Consolidation?

Debt consolidation and bankruptcy are two very different things. Debt consolidation programs attempt to work with creditors to negotiate resolutions to debt problems. This seems like a great alternative to bankruptcy, except it has some major drawbacks.

First and foremost, debt consolidation provides no legal protection against creditors. It does not stop creditor harassment, foreclosure, repossession, wage garnishment or other actions. Even if the debt consolidation program is successful in convincing creditors to forgive some of your debt, you may find yourself facing surprising new tax consequences because the forgiven debt can be treated as income. Bankruptcy offers a much more solid solution.

For more than a decade, Marrs & Terry, PLLC has offered individualized counsel and legal representation to thousands of Michigan clients in bankruptcy. Contact our law firm online or call 734-663-0555 so we can thoroughly review your case.

There Are Alternatives To Filing Bankruptcy

Many people look for alternatives to bankruptcy. Often, it is because they have a misunderstanding of what bankruptcy actually does. When our lawyers educate people about the realities of bankruptcy, they often agree that it is a solid solution to help them beat debt.

However, we understand bankruptcy is not the right solution for everyone. We can assist with debt negotiation as an alternative. We use our experience to work with creditors to reduce interest rates, extend terms and forgive debt. Unlike the debt consolidation companies that advertise on TV, we are lawyers. We have the legal strength to make agreements stick so they do not come back and haunt you.

You Can Get A Fresh Start. Contact Us Today.

If you would like to learn more about the negative aspects of debt consolidation, contact us online or call 734-663-0555 to discuss your situation with our experienced Ann Arbor and Wayne County bankruptcy attorneys.

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

Google Reviews

S.M. ★★★★★

Professional, compassionate team. They explained every step of the bankruptcy process and made a stressful situation manageable. I am grateful for their guidance.

J.T. ★★★★★

Straightforward advice without pressure. My attorney returned calls promptly and helped me understand my options. I would recommend Marrs & Terry to anyone facing serious debt.

E.R. ★★★★★

Knowledgeable staff and clear communication from start to finish. They handled the paperwork carefully and kept me informed. Highly recommend.

M.K. ★★★★★

Honest assessment of my case and realistic expectations. The firm treated me with respect and helped me get a fresh start. Thank you.

P.L. ★★★★★

From the first consultation I felt heard. They answered my questions patiently and walked me through Chapter 13. Excellent experience overall.

D.H. ★★★★★

Efficient, organized, and caring. They helped stop creditor calls and got my case resolved. I wish I had called sooner.

T.M. ★★★★★

Bridget has been a lifesaver through the entire process. She was always quick to get back with us either by phone or emails. She made us feel like family. Very caring and made everything easy to understand. I highly recommend these guys!

S.A. ★★★★★

We are treated like family. Bridget has been our gracious savior during the entire process and they are never done whenever we have questions or need help along the journey they are as attentive as they originally were from the start. If we ever have opportunity in the future to work with them we won’t hesitate.

C.R. ★★★★★

They were amazingly helpful and communicative. Tricia was very helpful. Bridget was a rockstar. She went through everything with me, step by step.

D.C. ★★★★★

Bridget and all the lawyers there have been absolutely great. They have helped us thru a very difficult time. We highly recommend this firm.

C.W. ★★★★★

I went to Marrs & Terry during one of the toughest parts of my life. The office staff felt like family. I was treated like a person and a priority. I cannot say enough good things about this office.

B.N. ★★★★★

Michelle is the best! Straightforward, Honest, and put me at ease from the start. I should've done this earlier, but was hesitant. Michelle has made my life manageable again. Thank you for everything.

T.T. ★★★★★

Amazing customer service from the very first call. Always willing to answer questions. Returned calls right away. Just good people. Thank you for doing such a great job!

J.H. ★★★★★

15 years ago we found ourselves severely upside down in our house, loss of income and growing debt. Marrs and Terry got us on a repayment plan and stopped collection efforts. Thanks!

J.C. ★★★★★

I am using Marrs and Terry for the 2nd time and they have made what can be extremely scary and uncomfortable processes doable. They are available to answer questions, large and small and are extremely approachable.

T.B. ★★★★★

Very professional, knowledgeable, helpful. They were there when I needed. Walked me through and explained everything as we went along. Would highly recommend for all your attorney needs.

M.W. ★★★★★

The best! Educated, kind, professional office. You can’t go wrong with them. You will get excellent service with this firm.

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