A few years ago, when I realized that I couldn't pay my mortgage anymore, I knew that I needed to do something to correct my finances. It seemed like I just couldn't catch a break, and after losing my job, I knew that I was in trouble. I started looking for new work, but I knew that I needed to fix my credit somehow. I was at the end of my rope, until a friend talked with me about the possibility of declaring bankruptcy. She explained that it helped her to start over. I met with a bankruptcy attorney who was incredible to work with, and I was amazed at how much it helped my situation. Check out this blog to learn how working with a bankruptcy professional could help you.
If you were already struggling financially and the holidays have put you even further over the edge, you may need to figure out your finances for the coming year. One of the things you can do to ease your finances and set off the next year on the right track is to file for Chapter 13 bankruptcy. Chapter 13 bankruptcy is not a forgiveness of your debts but rather a debt repayment plan to pay back your debts on a payment plan that is affordable to you. Read on for other tips to help you get into shape financially.
Start Tracking Your Spending
Figure out what you're spending your money on by making a list each month and keeping track of where every dollar is going. You may be surprised where all of your money is going. You may be spending a lot more money on things that aren't necessities, such as your coffee you stop for daily, cable television, or a streaming service, or your cell phone service. Track what you're spending your money on and where it's all going. There may be things you can cut out that can save you money.
Make A List Of Your Outstanding Debts
Making a list of your outstanding debts and what you owe on each. These should be loans you have outstanding or medical bills, not your monthly utilities. Make a list and see what you may be able to pay off and what you may be able to pay off for less money. Some creditors, including medical companies, will take a lump sum payment from you and take a percentage off of your debt. Try to see if any of your creditors will do this for you and see about paying off some of your debts this way. You may also be able to negotiate with some of your creditors to see if you are able to pay less on your monthly payment to get through these lean times.
Make An Appointment With A Bankruptcy Attorney
Make an appointment with a bankruptcy attorney to discuss your finances and what options you have as far as filing for bankruptcy. You may not be eligible for Chapter 7 if you make enough to pay back your debts. Instead, you may need a payment plan that works for your financial situation. A Chapter 13 bankruptcy may be just what you need. Make an appointment with a bankruptcy attorney to see if you qualify for a Chapter 13 bankruptcy so you can get back on track financially.
If you are struggling financially and the holidays were just the icing on the cake for your financial situation, you should make an appointment to file for bankruptcy.
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