At Loan Lawyers, our Southwest Ranches debt attorneys have years of experience providing custom debt solutions for our clients including:
- Eliminating all debt and getting a fresh start
- Negotiating new payment terms or amounts
- Lowering interest rates on current loans
- Filing for bankruptcy
- Personalized options depending on your specific situation
If you have a small amount of debt that you can pay back by adjusting your current spending habits, then you should aim to do this.
However, if you are feeling hopeless in that you will not be able to pay back very high debts from credit cards, medical bills, IRS taxes, personal loans, or any other unsecured debts within five years, then it is time to contact Loan Lawyers
Debt Relief through Bankruptcy
If you are not going to be able to pay back your debt on an agreed-upon debt settlement or debt management plan, then it is best to speak with a bankruptcy attorney first. You will be able to find out if you qualify for this before you seek out any other debt-relief options.
The most common form is Chapter 7 bankruptcy liquidation, which erases most credit card debt, medical debt, and any unsecured personal loans. This typically only takes a few months to accomplish if you are eligible to file under this chapter.
If you do not qualify for Chapter 7, you can file under Chapter 13 bankruptcy. This is a repayment plan approved by the courts that typically extends your payment terms to three to five years. If you can keep up with your monthly payments, you will be able to retain the rights to your home, car, and other valuables.
Debt Management Plans
There are a variety of debt management plans available depending on one’s specific situation and financial picture. You will want to work with an experienced debt relief law firm that can help advise you on your list of debt relief options.
For example, you may be able to settle credit card debt by paying the full amount off but with waived interest and fees. You may also be able to negotiate a lower interest rate for the remainder of your payment terms.
We can also look at placing temporary pauses on loan payments until you can save up enough to start monthly payments again.
We can negotiate extended payment timelines or lower monthly payment amounts with your lenders as well.
Contact Our Southwest Ranches Debt Defense Lawyers
At Loan Lawyers, our experienced debt relief attorneys serve clients throughout all of South Florida and help them get to a financially stable place once again. Don’t try to handle your overwhelming debt on your own – we are here for you.
For more information from our Fort Lauderdale debt defense lawyer, contact us today.
