Overwhelmed by debt? Find out your options from our New Hampshire bankruptcy lawyer.
If you are overwhelmed by debt, you may be under stress and enduring too
many sleepless nights. At Bryan W. Clickner, Attorney at Law, PLLC, I
can help you explore your debt relief options, including
bankruptcy and alternatives to bankruptcy. My goal is to help people become debt
free and to find the swiftest and most effective route to achieve this
goal, whether or not the best route involves filing for bankruptcy.
Debt Relief Options
So, what are your alternatives to bankruptcy? I encourage you to continue
reading to get familiar with your debt relief options:
Credit Card Consolidation: With a credit card consolidation, you essentially obtain a new credit
card where you roll other higher-interest credit card debt into a lower-interest
card. There are many competitive cards that offer 0% interest with balance
transfers for 6 to 12 months.
Debt Consolidation Loan: When you take out a debt consolidation loan, instead of making multiple
payments each month, you're consolidating them all into one loan.
While debt consolidation won't immediately improve your credit score,
it can help you effectively manage or reduce your debt over the next year or two.
Negotiate With Your Creditors: If you have the time to spend hours on the phone, you can attempt to
negotiate with your creditors to lower the overall amount due. One of the key negotiation
strategies is to lead in with bankruptcy, even if you don't intend
to file in the near future.
With bankruptcies, unsecured creditors often get nothing so creditors would
prefer to settle for pennies on the dollar rather than get nothing if
the debtor files for bankruptcy protection. If you negotiate a settlement,
it's important to have cash on hand because debtors with cash are
more likely to negotiate a lower settlement offer.
Loan Modification: A
loan modification is a modification to the terms of a mortgage outside of the terms of the
original contract. If your home is facing foreclosure, you may be able
to negotiate a modification with your lender. A modification may consist
of a reduced interest rate, a reduction in principle, a reduction in late
fees and penalties, a lengthening of the loan term, or a mortgage forbearance program.
Contact a New Hampshire Bankruptcy Attorney
If you're interested in obtaining more information about bankruptcy
alternatives, or to learn more about
Chapter 7 and
Chapter 13 bankruptcies, I encourage you to
contact me to schedule a
free case evaluation at my office in Manchester. I would be glad to offer you the valuable
advice you need to gain clear insight and direction into how you should
proceed forward towards improved financial health.
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