You have many options when it comes to trying to avoid bankruptcy in Florida. A common option is to consolidate your debts. This can be done with a company that specializes in this process or on your own.
Credit Sesame notes debt consolidation with a debt consolidation company requires negotiations with your creditors to lower your bills and help you save money while also setting you up with an affordable payment plan. This process cannot help with a few types of debts because they are non-negotiable. It also will not eliminate or wipe out your debts as a bankruptcy does. You also have to pay a fee for the services. It can take a long time, and a major part of the process involves ruining your credit before starting to fix it by not paying your bills.
Debt management services, on the other hand, will help negotiate with your creditors and establish a payment plan. You pay the company, and they may payments on your debts for you. You cannot create any more debt while you are enrolled. They usually work to get you out of debt within five years.
You can handle debt consolidation on your own. This is a different process. It involves getting a loan to pay off all your debts. This allows you to get one payment and one interest rate instead of having multiple payments and interest rates. You may also need to learn how to better manage your money and how to avoid getting back into debt for this to work. It may require getting debt counseling or taking a course in debt management. This information is for education and is not legal advice.