Getting a Handle on Out of Control Debt

It’s rare to see someone coming in to talk to a bankruptcy attorney with just one kind of debt weighing them down. More often, it’s a mix of out of control debts, that while they might be manageable on their own, have turned into a storm of debt that has no evacuation plan. When people talk about being swamped with debt, or buried under debt, or drowning in debt, those are evocative metaphors for explaining the overwhelming nature of debt. If you have a credit card, a car loan, and are paying off student loans, you are looking at three factors in a debt storm that need only the addition of, say, medical bills to tip you out of “doing all right” or “things are a little tight” right into “HELP!”

 

OUT OF CONTROL DEBTS

  • Student Loans: The price of getting a degree should not be sleepless nights. Whether it’s getting a better repayment plan, or dealing with your loan servicer, or getting out of delinquency or default, you need to know all of your options. Also, if you have been dealt with fraudulently by a school, or your school has closed, you need to learn about borrower defense to repayment.
  • Medical Bills: Medical bills are still the number one reason for personal bankruptcy. An illness or injury, time off work, and ongoing care can rip out even the most secure financial foundation. You can renegotiate medical debt, work out payment terms, or even see them out with a personal bankruptcy.
  • Real Estate: When you’re underwater on a house, it can mean a lot more than just mortgage payments. If you live at the right – or wrong – address in a flood zone, your flood insurance payments can exceed the cost of your mortgage. Get the right advice to sort out your real estate, mortgage, and other property woes like liens with a financial professional who can untangle debt and get you on firm ground again.
  • Credit Cards: Plastic is not so fantastic when you’re looking at high interest rates. Getting into credit card debt by putting everyday essentials like groceries and gas on your credit card is a great way to rack up staggering debt. Forget rewards points and nebulous “cash back” promotions, the only thing you’re spending for is a skyrocketing payment.
  • Auto Loans: A lot of people looking for a car can get pulled in with deals that sound too good to be true – and they are. When you need that car to get or keep a job, you’re going to do what it takes, but sometimes tightening that belt’s not enough.

 

If you need help managing your debts, getting out of a debt cycle, and making financial sense out of the overwhelming dollars and cents, call out offices in Fort Lauderdale or in West Palm Beach. Your initial consultation is free, and we are open seven days a week to accommodate your schedule. Let’s get you out from under your debts, and back on top of your life. Call us today!

Share
Published by
Chad Van Horn

Recent Posts

Everything You Need to Know About Tax Refund Offset Reversal 2022

Tax refund season is like a holiday season in the United States. People look forward…

3 days ago

What Should You Do if You are Sued by a Credit Card Company in Florida?

Being sued by a credit card company in Florida is a stressful, confusing, and frustrating…

1 week ago

What You Need to Know About an IRS Installment Agreement While in Chapter 13

Can you continue with an IRS installment agreement while in Chapter 13 bankruptcy? Unfortunately, no.

2 weeks ago

Here’s How a Zero Down Bankruptcy Can Help You Afford a Debt Relief Solution

Learn more about the zero down bankruptcy and to start your journey toward a better,…

1 month ago

The Real-World Guide for How to Pay Off Holiday Debt

If you are wondering how to pay off holiday debt, check out these tips –…

1 month ago

Can Debt Collectors Use Social Media to Contact You?

Can debt collectors use social media to contact you? The short answer is yes. As…

1 month ago