Dealing with debt pressures

Debt pressures can undermine a person’s ability to cope with everyday living. Sometimes these pressures become so all consuming that they distort a person’s judgment. Debtors have often mistakenly entered into illusory so called debt cutback programs only to find out later that they are in worse trouble than before. Debt can come out of one or more different situations including being wrongfully terminated from a job, discriminated against at the job, sexual harassment, expenses related to civil litigation, a divorce, medical bills, or business reversal. A debtor should make sure to know all of the available options for debt relief/elimination before jumping into a so-called debt resolution program. Beware of anything you get in the mail that promises to cut back debt. Get the true facts before considering any program that promises to help a person in financial difficulties. Not all programs that promise to help a debtor are the same and/or equally effective.

A licensed lawyer can help a debtor assess debt relief options no matter whether that person is experiencing financial troubles caused by investments that have become problematic, credit that is overextended, mortgage problems, past due rent, creditor harassment, or other related financial concerns such as threats of garnishment,  mortgage foreclosure or repossession. A debtor can explore with the attorney his or situation. At the meeting there can be a bankruptcy evaluation, which includes conducting a preliminary means test. A consumer can find out whether he or she is qualified for certain types of debt relief including Chapter 7 or Chapter 13 bankruptcy. If there are other legal issues that need to be explored such as in the employment, family or criminal law areas these should also be discussed with a lawyer as well. Dealing with a person’s legal issues in a timely manner is important and can help minimize exposure to greater debt and/or other legal problems.

This article is not intended to give legal advice and does not do so. The reading of this article does not establish an attorney-client relationship or substitute for consulting with a licensed attorney.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.

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