Can a Debt Management Attorney Help Me?
Having credit cards and loans allows us to purchase the things we want with the convenience of paying a portion of the balance off on a monthly basis. Credit cards tend to creep up on us, and we suddenly find ourselves with multiple credit cards. When you apply for a credit card, you may think you will only use the card for inexpensive items. After a year or two, you may realize just how much you are paying each month towards your credit card and loan balances as well as accrued interest.
How a Debt Management Attorney Can Help You
Undoubtedly, bankruptcy isn’t for everyone. Bankruptcy helps millions of Americans discharge debt in an efficient way, but your particular financial situation may be resolved without turning to such an action. For example, if you are able to make your monthly payments on time for all of your credit card accounts and loans, you should consider alternative measures that will help you take charge of your debt and spend more wisely to avoid accumulating significant debt in the future.
A debt-management and bankruptcy attorney can provide you with all of your options for managing your debt and coming up with a financial plan that will allow you to save money. You may have a decent salary that ordinarily would be sufficient for you to save money year after year. However, if you have significant credit card or loan debt, you may find that a bulk of your salary is going to paying off debt each month. There are a variety of ways to tackle debt and learn to live debt-free. A debt management attorney will help you formulate a plan that allows you to pay less each month towards your debt, and start saving.
An attorney may suggest the following as a way to manage debt:
• Enroll in a Debt-Management Program (DMP) with a debt-management agency: These programs allow you to consolidate your credit card debt, and make one monthly payment with lower interest rates, saving you hundreds or thousands of dollars, and allowing you to pay off your credit card debt much sooner.
• Negotiate with your creditors directly: If you have not missed many payments, but simply can no longer live from paycheck to paycheck, you may be able to reach an agreement with your creditors to lower your monthly payments and/or lower your interest rates. Many creditors will agree to a new plan because they want to keep card-holders who make timely and complete payments.
• Allow an attorney to negotiate on your behalf: If you do not feel comfortable negotiating with your creditors on your own and believe you may be taken advantage of, you may consider turning this task over to an attorney. With the help of an attorney, you will have peace of mind that someone is advocating for you.
While you may be able to handle your debt on your own by making the minimum required payments each month, it is always a good idea to consult with an experienced debt management attorney who can provide you with information and guidance to ensure you are paying off your debt in the most efficient way possible.
Contact The Law Offices of Georgette Miller and Associates, P.C. Today
If you have a mountain of credit card debt and loans, you are not alone. Millions of Americans are suffering from debt in much the same way as you. While you may not need to file for bankruptcy as a means of managing and discharging your debt, you still could benefit from the advice of a qualified debt management attorney. The attorneys of The Law Offices of Georgette Miller and Associates, P.C. focus not only on bankruptcy matters, but all matters relating to debt-management and how to live financially healthy. Our law offices provide debt-management and bankruptcy services to individuals and small businesses located in and around Philadelphia, PA, New York, New Jersey, Washington, D.C., and Wilmington, DE. Contact us today to schedule a consultation by calling (866) 96-GMLAW.