Providence Alternatives to Bankruptcy Lawyer
What are the Alternatives to Bankruptcy?
If you are like most individuals, bankruptcy is not an option you ever thought you would need to face. Although State and Federal law allows for the filing of bankruptcy protection, many people find it an unsuitable form of handling their debt problems. Bankruptcy is not for everyone and you do have other choices you can make. If you are facing overwhelming debt and have creditors calling and your wages being garnished, the BK Law Group PC and bankruptcy attorney Gail Balser, can assist you with the various means to handle many different types of debt situations. Below are listed some common types of debt situations and methods our office can use to help you get them under control.
Credit card and personal loan debt
When faced with mounting credit card or personal loan debt which you can no longer afford to pay, due to loss of a job, medical costs, divorce, or any other reason, our legal staff can work with your creditors to discuss either your interest rate, monthly payment amount or even the total outstanding balance through our tough negotiating tactics.
Again, as with credit cards, we can aggressively negotiate with your lender to lower your interest rate, lengthen your loan term to decrease your payment amount, or even negotiate the principal amount down. If you can no longer afford your vehicle and can do without it, we can work with the lender to take back the vehicle and minimal impact to you financially.
When you feel you can no longer afford your home and need to get out of the loan obligation, negotiating with the lender to accept a Short Sale is a good option. The banks can be worked with to accept less than the amount still owing on your loans as full payment of the obligation. The house is sold to a new buyer for this lower amount.
If you are facing foreclosure and want to keep your home, our office can negotiate with the lender to stop the foreclosure process and work out a payment option that you can afford based on your financial ability.
Deed in Lieu
When you simply need to get out from the overwhelming mortgage payment, a deed in lieu of foreclosure may be right for you. Certain lenders will accept the deed to your property as full satisfaction for the remaining balance of your loan without going through the foreclosure process. Our professional bankruptcy lawyer can work out the detail for you.
When you want to keep your home but cannot afford the current payments, a loan modification may be able to lower your loan payments either through lowering your interest rates, lowering your principal amount owed or even extending the length of the note.
Find Out More About Bankruptcy Alternatives
Attorney Balser has helped numerous clients with their debt problems through alternative means. She believes strongly in working with her clients individually, carefully determining exactly what is needed to get them back to financial stability. With over 20 years experience in throughout every county in Massachusetts and Rhode Island Bristol, our firm is ready to assist you with your credit situation.
There are many alternatives to filing for bankruptcy. Find out what they are by calling the BK Law Group PC today.