Getting Ahead Of Bankruptcy

By |2017-09-23T21:45:04+00:00March 24th, 2015|Bankruptcy|

Nobody wants to think about bankruptcy. Financial problems can be scary and frustrating, but bankruptcy can be the best solution to an otherwise overwhelming situation. With the help of Brent George Law, you may be able to do a few things that can keep you from feeling so bogged down in debt. There are some preventative measures that you can make when you are filing for bankruptcy.

Sell Property

When you file for bankruptcy, all of your property is reviewed by a trustee who can decide what you need to sell and what you can keep. If you do this ahead of time, you may not have to worry about going under. If you have a lot of property debt, it may be a good idea to get rid of a few big-ticket items that are costing you a lot of money. With some extra money, you may be able to get out from under other debts that are weighing you down.

Negotiate Debts

With the help of the Brent George Law team, you may be able to negotiate some of your debts. A debt settlement allows you to make a deal with your creditors by using a reduced payment plan schedule. Some creditors may allow you to waive your debts as long as you agree to make larger payments later on when you have the cash flow to do such. You may want to try the snowball approach: paying down your larger debts first and reducing your payments as you go.

Refinance a Mortgage

For many people, a mortgage on a home takes the largest chunk of money each month. If you are already having issues with debt, lowering the cost of your mortgage might be a good per-emptive strike on starting on the right path towards debt-recovery. If you have good credit, you might want to file before you filefor bankruptcy as it will be easier to qualify. If you have bad credit, applying after you file for bankruptcy might be the better solution.

At Brent George Law, we can do more than simply help you file. Speaking with an experienced bankruptcy attorney may provide you with understanding about things you can do to improve your financial standing and get out of debt. While bankruptcy is not the end of the world, it is often better than persisting on a path of debt.