Bankruptcy Alternatives

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.