Did you spend 2016 trying to get control of your debt problem? How many phone calls did you answer from harassing creditors? How many letters came in the mail? Perhaps you have even found yourself facing the threat of home foreclosure.
Is it time to make a New Year's resolution that will have a lasting impact? Is it finally time to take the necessary steps to overcome debt and regain financial stability?
Your Debt Relief Options
Debt can be diabolical. Massive late fees and ridiculous interest rates can make it difficult to make a dent, especially in credit card bills. You have probably already tried everything you can on your own, but the reality is that you cannot keep up.
There are many options out there. Be wary of debt consolidation services that promise quick solutions. They offer to negotiate with your creditors on your behalf, but they may not have any leverage to negotiate successfully. News reports are filled with tales of businesses like these taking payments from debtors and doing nothing to resolve debt problems. You may have considered loan modification. Unfortunately, lenders often make debtors jump through impossible hoops to modify a mortgage in any significant way. Meanwhile, debt continues to grow.
There is one option that is tried and true, that was developed by law in order to help people like you out of financial turmoil: bankruptcy. Perhaps you have heard myths that bankruptcy requires that you give up all your assets, or that it will damage your credit permanently. Thankfully, that's not how bankruptcy really works. It is not intended as a punishment for debtors. It is a viable means for getting out of debt.
Is Bankruptcy Right For You?
Is bankruptcy the best method for overcoming debt in 2017? The only way to know for sure is to have an experienced lawyer review your situation. At Russo White & Keller P.C., we offer free consultations to people considering bankruptcy.
We are not going to push you into filing bankruptcy. Instead, we will evaluate your case, educate you about potential solutions, and let you know if bankruptcy truly makes sense in your situation.