If you’re having financial problems, the worst thing that you can do is to try to ignore it. Most people who get into serious trouble are initially inclined to try to hold onto the belief that they’ll be able to recover, even if it’s obvious that they already owe more than they can hope to pay. Often, families will keep will just keeping making payments and hoping for the best, even when they can see that the interest rates on their accounts are so high that they’re barely even paying the interest that’s accumulating from one month to the next. The sooner you seek Debt Relief Help, the sooner you will be able to start building a solid financial foundation for your family.
Some people fear that seeking help with their debt amounts to becoming the sort of people who abandons their commitments. While Chapter 7 bankruptcy does allow for the possibility of having much of your debt cancelled, that’s not your only option. Options like Chapter 13 bankruptcy and debt consolidation are focused on creating a payment plan that you can actually manage, and dealing with the severe interest rates that may be keeping you from making real progress on repaying what you have borrowed. Meanwhile, almost anyone with a lot of debt can benefit from getting help with contacting creditors and simply asking about the option of settling the debt for a lump sum or even just getting a lower interest rate.
There are a lot of options out there, and each one will have a slightly different impact on your financial life. Debt consolidation usually doesn’t change what you owe, but tends to offer better interest rates and a longer payment period. Bankruptcy can potentially cancel some debts, delay foreclosure, and provide protection against abusive debt collectors.
Chris Carouthers & Associates, LLC can provide you with Debt Relief Help. If you call for an appointment, you can get a consultation with a professional who can help you to sort through the options and to figure out how each one would impact your specific situation. Then, you’ll have the information that you need to make the right decision and to start building the life that you want for yourself.
