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. However, you may only be able to negotiate
more time before finance and late fee charges, as well as a reduction
in the interest rate.
-
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. The process entail is combining all of your credit cards and loans and
consolidating their debt 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) 655-0502 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.
Contact us and request a free consultation.
