If you are considering bankruptcy but are not quite sure it is the right path for you, there is a phone call you should make. And no, it is not to Klein Law Group.
Call the hardship departments of your auto lender, credit card company, and your mortgage lender and tell them you are considering filing bankruptcy. You may be surprised to hear how many companies will be willing to work with you after that declaration. They may even lower your monthly payments.
The bottom line is that banks and credit card companies do not want you to file bankruptcy. If you do, they won’t see a dime from you again. Since they would prefer something more than nothing, it is worth your time to call them and ask what new arrangements can be made to alleviate your financial burden.
When you call, have a clear dollar amount in mind to offer in negotiating new payment amounts. For example, you can say that in order to avoid bankruptcy, you are willing to pay $100 per month for the next twelve months and then go back to the original payment amount that has been determined after that.
I know it seems strange for a law firm that concentrates in bankruptcy law to give you advice on how to avoid bankruptcy, but we believe in helping people who have financial difficulties recover from their mistakes so they can enjoy a brighter future. Bankruptcy is not for everyone. Although bankruptcy helps people wipe the slate clean, it is a big decision and should not be taken lightly. One needs to gather as much information as possible before making this move.
If making those calls is something you are not prepared to do and you feel too far buried in financial debt, filing bankruptcy might be the best option for you. If you are struggling with your finances, and you can not see the light at the end of the tunnel, you may continue to slip deeper into debt for many years to come. As you try to stay afloat, you will likely miss more car payments, mortgage payments and credit card payments. As time goes on, your credit score will drop and that only makes matters worse.
Think about it. Pick up the phone and make those calls to try to improve your financial standings with your lenders. If you choose not to go down that road, contact us to consider your bankruptcy options. In four months, you could be debt-free and enjoy a fresh start. In addition, you would be on the path to rebuilding your credit score. With Klein Law Group and 720CreditScore, you could have a score of over 720 in just 12-24 months.
It is up to you. Make that call — either to your debtors or to Klein Law Group.