A creditor or a finance company may try to "refinance" the debt. Refinancing involves replacing one or more of the debts with a new one. It is often offered as a way of dealing with a delinquent debt or a way to consolidate several debts into "one easy payment", as some creditors like to say. This may at first seem appealing but it might not always be in the best interest of the debtor, because the new debt may have many hidden disadvantages.
Speak to an Experienced Creditors Rights Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.