Filing bankruptcy is a big decision. It’s important to understand all your options before you take the next step. If you decide you do not want to file for bankruptcy, there are a couple of alternatives you can take to relieve some of the stress you are feeling from your debt. Depending on your situation, alternatives to bankruptcy may be the best route for you.
Negotiating with your creditors is going to be the biggest thing you can do to relieve the stress you are experiencing from your debt. If you have some income or have assets that you are willing to sell, then you may be able to negotiate with your creditors to come to a settlement. At the very least, the negotiation with your creditors may give you enough time to get back on your feet.
Negotiating your own debt can be a daunting task and many people aren’t comfortable negotiating their own debt with collections agencies. If you don’t want to negotiate your own debt, you can look for a lawyer or credit counseling agency to do that for you. Even if you wanted to try and negotiate your own debt, you should at least take advantage of a free consultation from a law firm or credit agency so that you can be as prepared as possible when starting that process. For more information about negotiating your debt, see Daniel Taylor Law’s article Debt Negotiation.
At Daniel Taylor Law, P.C., we believe debt negotiations can have a winning strategy. No two people are the same nor should they be treated that way. We focus on understanding your unique scenario so that we can put you in the best position possible after this process. We want to make sure we protect your assets and have you pay as little as possible in any debt negotiations. Fill out the contact form below to get your FREE one hour strategy call.