Are you having trouble dealing with debt, or struggling to pay your bills each month? If you are experiencing financial problems, you are not alone. Americans owe over $880 billion in credit card debt, with the average household having almost $15,600 in credit card debt. This figure does not take into consideration mortgage debt, medical bills, student loans, car loans, and other forms of consumer debt. Dealing with debt can quickly become stressful, even overwhelming.
Everyone faces a financial crisis at some point in his or her life. A financial crisis may be caused by a variety of situations, including but not limited to:
- Decrease of income due to unemployment or salary reductions
- Medical emergency or prolonged illness
- Death of a spouse
- Unwise money management and/or poor financial skills
Regardless of the reason for the financial crisis, the results are often the same —creditor harassment, repossession, foreclosures, lawsuits, garnishments, levies, etc.
Finding an Affordable Solution for Dealing with Debt
Just as there are many different reasons why you might find yourself dealing with debt, there are also a variety of solutions you may choose from to resolve your debt problems, including debt consolidation and bankruptcy. The solution you choose will depend on your financial situation and your financial goals.
The key is to remember that there are advantages and disadvantages to each solution. Before you make any decisions about dealing with debt, you should consult an attorney who has extensive experience helping individuals who are in debt find a way to get out debt so they can recover and rebuild from a financial crisis.
When you are searching for a solution to your debt problems, you should:
- Know what creditors cannot do to collect a debt – You need to understand your legal rights under the Fair Debt Collection Practices Act. Our office can help you determine if you have been a victim of unfair trade practices by unethical debt collectors.
- Know what you owe – Before you can begin to solve your debt problems, you must know what you owe. Make a list of all creditors and take a good look at the debts you owe, including the type of debt and the amount owed on each account.
- Know what you can afford to pay – Create a budget to determine if you have more money coming in than going out. If you have a negative budget, it is definitely time to schedule a consultation to review your options regarding bankruptcy.
- Know your legal options – In order to resolve your debt problems, get professional help. When dealing with debt, you may not be thinking clearly because of the stress you are experiencing as you struggle to pay your bills and living expenses. Please contact our office to discuss your legal options, including filing bankruptcy as well as non-bankruptcy alternatives, such as debt consolidation. You need information so that you can make an informed decision — you can get this information without any obligation by scheduling a free consultation with The Law Office of Travis J. Richards, LLC.
Stop Dealing with Debt — Solve the Problem Permanently
There are many ways you can resolve your debt problems, but few offer the benefits that bankruptcy does. Bankruptcy offers a permanent solution to your debt problems so that you can move forward without the burden of debt controlling every aspect of your life. Bankruptcy is intended to give people who are suffering with debt a fresh start.
The United States Supreme Court explained it best in the case of Local Loan Co. v. Hunt (1934) when it said that bankruptcy “gives to the honest but unfortunate debtor… a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.” Bankruptcy offers a permanent solution to your debt problems so that you can move forward and rebuild your finances to provide for yourself and your family.
Learn More About Dealing with Debt
You can learn more about dealing with debt by reading our blog posts, which cover the issues that people face as they struggle with debt. To learn more about how bankruptcy is an affordable, permanent solution to your debt problems, contact our office for a free consultation.
Contact an Experienced Mount Holly Bankruptcy Attorney
If you are experiencing financial problems due to debt, contact our office at 609-267-5297 to schedule your free consultation to discuss bankruptcy and non-bankruptcy alternatives. You may also use our convenient online contact form in order to have one of our friendly, professional staff members contact you to answer your bankruptcy questions and/or schedule a free consultation with attorney Travis J. Richards.
The Law Office of Travis J. Richards, LLC is a full-service Mount Holly bankruptcy law firm focused on Chapter 7 bankruptcy, Chapter 13 bankruptcy, debt consolidation, credit repair, tax liens, student loans, and foreclosure. We are proud to represent clients in Burlington County and throughout South Jersey.