Do you have more debt than you are able to repay? If so, you may be wondering what are your options. We have worked with many people in the same situation. So, what are your best options?
Option 1: Do Nothing/Ignore the Debt
Is this the best option? Well, if you have no income or assets that can be taken from you, you could consider doing nothing. However, be prepared to continue receiving telephone calls, letters, and/or lawsuits from creditors.
Option 2: Repay the Debt in Full
If you are financially able, you can always repay your debt in full. If you are able to do this, be sure to request a letter of deletion.
Option 3: Debt Settlement
Settling your debt with your creditors can be done directly with your creditors, a debt settlement company, or an experienced attorney. This is a voluntary repayment plan with your creditors, in which your creditors agree to reduce the amount owed. But, be aware that not all creditors will be willing to work with you or a settlement company.
Option 4: Bankruptcy
Filing for bankruptcy can be a scary thought. However, a bankruptcy is just a federal court proceeding which can eliminate all or part of your debt. Or, it can force your creditors to take a payment plan on part or all of your debt.
Need More Information?
At the Law Office of Daniela Romero, we believe in relationships that are based on trust. Before we work together, we would like to get to know you and we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.