If you are struggling with debt, bankruptcy might be a good option but if you are averse to the idea of filing for bankruptcy, consider alternative steps for digging out of debt. In some situations, a non-bankruptcy course of action may be your best remedy. Even though bankruptcy may be the answer, here at DAL Law Firm we will always consider alternatives to bankruptcy before recommending bankruptcy.
Some alternatives to bankruptcy that you can consider:
- Negotiate with creditors for a payment plan. You may be able to negotiate a plan with your creditors to lower or eliminate interest, trim your monthly payment, and possibly reduce your balance.
- Negotiate with your creditors for a lump sum settlement. If you have the funds to do so, you may be able to offer a lump sum to settle the debt for a lesser amount than what is owed.
- Determine if you are judgment proof. Depending on your income and assets, you may be judgment proof.
We offer a free bankruptcy consultation where the attorney, Darcel Lobo, will thoroughly review your finances to determine the best course of action to resolve your debts. Whether or not you decide to file for bankruptcy, having an experienced and skilled attorney review your financial situation is imperative to truly know the solution.
While bankruptcy is not the desired first option, it sometimes can be the best option to allow our clients to resolve their outstanding debts and obtain the fresh start they are looking for. We have been assisting clients with bankruptcy, as well as bankruptcy alternatives, since 2009 and would be happy to assist you to gain financial freedom.
If you find yourself wondering if bankruptcy is the right option or you want to know what other alternatives there are out there for you, please contact our office at CALL, or by email at: [email protected].