You never expected to find yourself struggling this hard with your debts. Unfortunately, some find that unexpected changes in your career and finances have become crushing and you aren’t able to pay your bills.
Getting out of debt is a priority for you, but there doesn’t seem to be much left after your necessary bills are paid to put toward the growing number of other debts you have — and late fees are driving the bills ever higher. Still, ignoring the debts isn’t a suitable option.
What kind of debt relief options do you have?
There are a few different options that you have if you want to try to take control of your finances. Deciding what’s best for your situation can help you to get back on your feet. But, you have to be willing to look at them realistically.
For example, you can try consumer counseling, repayment plans and various other ways to repay your debts — but those will only work if you actually have any money left over when your basic living costs are covered. If you don’t have much more money than you need to cover your monthly bills, you can’t exactly just “live on less” and repay your debts.
Bankruptcy is a viable option for people who truly want a fresh financial start and don’t have the means to catch up on their bills. If bankruptcy is the option that you feel is best for you, the next step is determining whether you need to file for Chapter 7 or Chapter 13. Your attorney can help you to determine which is the appropriate option for your situation and guide you through the process. Please continue reviewing our website to learn more.