So you decided to buy a house a few years ago and the market turned. Now, your house is worth less than you owe to the bank, and you are one month behind!
Worse still, you have a large amount of credit card debt, that is growing larger by the month on minimum payments and your income is barely enough to get you and your family through the coming month (or maybe even the week).
However, on the positive side, news reports suggest that home prices are turning around. You want to keep your home – so what are your options?
Can you manage mortgage payments if you did not have to pay your credit cards?
Do you have a second mortgage that could be stripped under current bankruptcy laws, and immediately give you a bump in home equity? What other options do you have? Is the IRS harassing you as well?
Take the first step to ending sleepless nights, and let me help you come up with a plan to get you on top, and back in control. Doing nothing about your debts and ignoring what is happening to you may seem easier at first, but once the foreclosure notices and law suits begin to come in the mail, the thought of wage garnishments and liens on your house or even your car, can really make you and your spouse depressed.
Being proactive about taking care of your debts should begin with a free consultation with consumer debt attorney Paul M. Allen. Get the scoop on what your options are from a professional. Determining whether or not you qualify for any form of debt relief and what these benefits can do for you should be your first step in debt relief.
What if your attorney recommends a bankruptcy – is that something to fear? No – because a bankruptcy is also the first step to a better credit rating.
Feeling a sense of guilt for filing a bankruptcy or a sense of shame seems to be related to bankruptcy but I do not see why…
Bankruptcy is a government enacted program designed to wipe out debts for people who meet certain criteria. That is it. If you do not make enough money to repay your debts and you do not have any property that is unprotected, the government will wipe out your unsecured debt so that you can start over and reset your credit. If you have any moral qualms about filing your case, remember, if you are already in a situation where you need to file for bankruptcy, there is no shame in taking advantage of the benefit that a bankruptcy can provide. What is the alternative? Contact my office at (818) 334-5445 if you would like me to help you plan your way out of debt.
(This article is for information purposes only, and does not necessary reflect the company’s opinions and views on general issues. We make no warranty, prediction nor representation, nor do we assume any legal liability for the completeness of any information and its effect on any case. Each case is different and results depend on the facts of each case. Consult with and retain counsel of your own choice if you need legal advice.)