Are you concerned about the amount of your debt? You may be wondering what the best options are for managing your debt. You could do nothing, but your debt will continue to grow. You may even end up with lawsuits and judgments against you. So, what are your other options?

Borrow Money 

Be VERY careful with this option. Some people can borrow money to pay off debt. If you can do so, you may be able to create a manageable repayment plan or pay off the debt entirely in a lump sum. The problem with this step is that you may find yourself in a worse situation than you are already experiencing. Do your research and take your time before agreeing to anything. The last thing you want to do is create a bigger problem for yourself!

Work With Your Creditor(s)

An option that many people overlook is negotiating down your debt with the creditor. This is possible and takes time and patience on your part. Many creditors will work with you to come up with a better repayment plan or even take a lump sum payoff. If you decide to hire a professional to help you with this process, please do your research. Keep in mind that some creditors will not work with debt consolidation companies. Another thing to consider is that there are tax ramifications of settling your debts. Whatever debt your creditors do forgive can actually be considered taxable income to you. So, if you’re struggling to pay your taxes now, settling with your creditors might make that problem worse.


Bankruptcy is a viable option to reduce or eliminate your debt entirely! Speaking with a qualified bankruptcy attorney will give you more information about the best options for your current situation. Also, most attorneys offer free consultations and will provide you with other options to get your debt under control. This will give you more information and more options for tackling your debt.

Looking For More Information About The Best Options For You?

Contact our office today for a free consultation. 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 your free consultation today.