Alternatives to Bankruptcy

Let Our Experienced Richmond Bankruptcy Lawyer Help You

At Bruce W. White, P.C., we often hear some backlash against filing for bankruptcy as a solution for debt issues. Even though bankruptcy may be the answer, in our 30+ years of experience, our legal team always considers alternatives to bankruptcy that can help you reach your financial goals. Whether or not you decide to file for bankruptcy or not, having an experienced and skilled attorney review your financial situation is imperative to truly know the solution.

  • The following are alternatives when experiencing financial hardship:
  • Negotiate with your creditors. If you own some assets that you are willing to sell or money you are willing to give to your creditor, you may be able to negotiate a debt reduction to that particular creditor.
  • Negotiate with your mortgage lender. If you are experiencing substantial mortgage issues, there is chance you could negotiate with the loss mitigation department of your mortgage company to reach a loan modification agreement that is suited for your financial needs. If you are in bankruptcy, however, our Richmond bankruptcy lawyer can help finalize a loan modification agreement as well.
  • Consolidate your debt. This process entails combining all of your credit cards and loans and consolidating the debts into a single, more manageable loan or payment.
  • Debt management/settlement plans. Debt management plans allow you to pay back your creditors – typically with a reduced interest rate. Debt settlement plans can help you organize a way to save money and propose settlements to your creditors. If you can't afford this option, then bankruptcy is an answer.
  • Home short sale. If your home is facing foreclosure, then a short sale of your property can help you relieve yourself of the significant debt load of your home. However, bankruptcy allows you to surrender your house and eliminate any debt or stress associated with selling home yourself.

Call (804) 288-4328 for More Information Today

Our Richmond bankruptcy attorney will thoroughly review your financial history and current financial state to determine the best course of action to obtain your financial independence. Do not hesitate to let us help you that fresh start you desperately need to get your life back on track.

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