What Debt Relief Options are Available?
Are you finding that you are not making progress paying down your debt no matter how hard you try? There are multiple options open to you when this happens, and you are facing overwhelming debt.
To get relief from your financial burden some debt relief options could include wiping the debt out altogether through bankruptcy; negotiating changes in your interest rate or payment terms; or convincing creditors to agree to accept less than the full debt owed.
These solutions can provide debt relief so you can get back on your feet quickly, but each debt-relief program is not the right solution for every case, so it is important to work with a knowledgeable advisor to determine what is right for you.
Many falsehoods and misconceptions are held about bankruptcy. This confusion added to what is already an extremely stressful situation can cause an emotional response for many people. There is no doubt that bankruptcy is a very serious step, but it allows for individuals to obtain a fresh start through either a Chapter 7 or 13 proceeding. They are then able to move forward without the pressures caused by overwhelming debt.
Under the Fair Debt Collection Practices Act (FDCPA), third party debt collectors must follow very precise rules when they contact you regarding your debt. Understanding your rights under this law and having your rights enforced by Hailstone Legal Group can stop the harassment and see that you are compensated for any breaches of the act.
Debt negotiation, also known as debt settlement, involves working directly with each of your creditors to find new terms that are acceptable by both parties and typically involves lowering the amount owed and / or more reasonable payment plans that will be easier for you to manage. These voluntary agreements can but negotiated at any time and provide an alternative to bankruptcy.
If you are being sued by a creditor for unpaid debts it is not something you can ignore and you need to take action to defend your rights. Your creditors are counting on the fact that most people fail to stand up to them in court but there are many defenses that may be available to you. In some cases, you may even be able to file a counterclaim for damages.
Call Hailstone Legal Group today to uncover your options. We can help you manage your debt crisis starting with the scheduling of your free no-obligation consultation.
