Many people feel that when their financial situation gets to the point where they can no longer pay their bills, the only viable form of debt relief in Marietta, GA is to file for bankruptcy. While bankruptcy can be an effective way to relieve a certain amount of debt, it should not be considered as a first option. In fact, the attorneys at Chriscarouthers.com may be able to consult with an individual or couple to determine if there are any other viable solutions.
While there are different aspects that make up a grim financial situation for an individual or couple, there are also a number of options people have available to get out from the weight of debt. In some cases, if a person is facing foreclosure, an attorney can help negotiate on their client’s behalf with the lending institution that holds the mortgage to renegotiate the terms of the loan. This can give the clients an opportunity to get current on their mortgage payments and to restructure the payments so they are more affordable and easier to repay.
In some situations, attorneys can negotiate on their client’s behalf with credit card companies to lower interest rates, forgive late and over the limit fees, and to structure a repayment plan that satisfies the need for repayment and makes the repaying of those debts for their clients easier to manage. There are also situations where debt relief in Marietta, GA can take the form of a debt consolidation loan. These types of loans can repay a person’s debt in one payment while reducing the amount of interest a person will pay on those debts with a reasonable debt consolidation loan interest rate.
Bankruptcy may be the only solution when mortgage holders don’t want to negotiate. In addition, people may be too far behind on their credit card debt or, in some cases, a person’s credit score is too low to secure a debt consolidation loan. However, with so many different avenues to pursue, it’s possible there is an option that can help a person get relief from excessive amounts of debt without the hassle and the long-term repercussions of filing for bankruptcy.
