When individuals start to run into financial difficulty they often start looking for ways to get their creditors that are hounding them off their back. The temptation may be here to borrow from some other source to be able to pay the one that is doing the hounding at this particular time.
Often this may work as a quick fix but it soon backfires as now the debt is accumulating. Some individuals feel that if they can get some kind of debt consolidation and get all of their debts under one umbrella and one payment that this is easier for them. Basically this comes down to borrowing your way out of debt and in most cases this simply does not work.
You are actually increasing your debt load in most cases when you consolidated because the repayment. It takes much longer to repay the debt and the longer the repayment period is the more interest that is being paid.
If your finances have got to the point where you cannot handle your debt load then your best option may be to go bankrupt and begin fresh. This is not a decision that you want to make lightly and you really need to have qualified advice to assist you in making your decision. This is where your Dayton bankruptcy attorney is a very beneficial resource to you. This is not only in helping you decide if bankruptcy is right for you but taking you through the entire process to make sure that this form of debt relief is going to be successful and the solution that your situation demands.