It's that time of year when people start looking at where they are in life and thinking about where they would like to be instead. Often, these thoughts involve money. Were you hoping that you would be financially stable at this point in your life? Were you hoping to be debt-free? Now is a great time to take steps toward that goal.
Explore Your Debt Relief Options Now
There are many businesses out there offering to guide you toward debt relief and financial stability. Many people turn to debt consolidation agencies for help. Unfortunately, some of these businesses are scams, while others simply do not have the legal strength to make a difference.
Debt consolidation companies may be able to negotiate a payment plan with one or more of your creditors in some situations, although they have little leverage to encourage creditors to agree to a plan. They might not be able to stop interest and fees, and your creditors could still take action against you. People often pay these businesses for years, only to end up in further trouble without making a dent in their debt.
Bankruptcy is a trusted debt relief option. It can effectively allow you to tackle unsecured debt like credit card bills and medical bills. Bankruptcy can be used to stop foreclosure, prevent repossession and halt wage garnishment.
Perhaps you are reluctant because you have heard that you will have to give up some or all of your assets if you file. You may be surprised to learn that this is a myth. In fact, most of the negative things people have heard about bankruptcy are myths. The reality is that bankruptcy is not meant to punish you. It was specifically designed to help people who have become overwhelmed by debt.
Want To Start The New Year Debt Free?
You can learn more about bankruptcy and debt relief in a free consultation. At Wm. Barry Phillips, P.C., we have decades of experience helping people like you achieve debt relief. We are happy to review your situation and explain your options for overcoming your debt in the new year.