The consequences of ignoring unpaid accounts could be repossession of assets, foreclosure of the home, or a garnishment of wages. Couples and individuals that are dealing with a constant financial struggle always have the opportunity to turn the situation around so that their financial future is prosperous. If you’ve had enough of living from paycheck to paycheck and feeling that you’ll never catch up then turn to the advice of our bankruptcy attorneys.
We can help in many ways including:
A decrease in income or unexpected expenses may leave no other option than to file Chapter 7 bankruptcy to have loan accounts resolved. It does require that certain assets are forfeited to repay the lenders unless they are considered exempt. Sometimes starting over is the only way to put a stop to collection attempts so that you can focus on making smarter decisions for the future.
If giving up certain assets is going to cause a significant struggle, then it is worth pursuing other options with the lenders. Our attorneys suggest that individuals with steady income file Chapter 13 bankruptcy to extend the terms of their contracts and consolidate all of the debts. It may take many years to fulfill the contracts, but retaining the assets is often the best way to move forward without greater hardships.
Most people instinctively avoid speaking with lenders once their accounts have fallen into default status, especially if they know they cannot make a payment. This is actually one of the worst things you can do if you have a significant asset on the line, such as your home. Lenders are usually willing to negotiate lower terms with an attorney as long as the borrower can continue making payments on their account.
The complex contracts required in real estate transactions are necessary for both parties if there is ever a dispute. Real estate attorneys can work with both parties to create an agreement that is mutually beneficial, or we can explain an existing contract to ensure that you are not signing off on terms that you do not clearly understand. We are available to oversee the signing process, settle any disputes that arise, and ensure that the process is handled efficiently.
Visit out our contact page to fill out the form for a free consultation, or you can give us a call at the location closest to your home.