A lifetime of conditioning to the importance of being responsible about one's debts gives many debtors an aversion to the idea of filing bankruptcy. It is natural to want to find ways to make good on your signature with which you obtained credit or received services that you now cannot pay for. It is also a good idea to find a way to avoid having the black mark of "bankruptcy" on your credit report if there is another way.
Debt Relief Attorney in Arizona
For these reasons, many Arizonans struggling with debt have sought and found debt relief through various alternatives to bankruptcy:
Debt settlement: Through a debt settlement agreement, you may be able to repay your debts over time at a reduced rate, without damage to your credit report. The Roll Law Office, PLLC, can advise and assist you in reaching a debt settlement agreement with creditors and getting the payments started. This may be an especially good option if your debt lies with just one or two creditors. Creditors who are made to realize the likelihood of your filing bankruptcy without a debt settlement agreement are more inclined to agree to negotiate a debt settlement plan.
Debt consolidation: Some debtors find that the convenience of consolidating debt into one monthly payment made to a third party, who in turn pays each creditor its portion, makes resolution of out-of-control debt more manageable. Creditors who agree to a debt consolidation scheme typically also agree to lower interest rates. Many debtors have found debt relief through this method with much less damage than in bankruptcy or with no damage to their credit reports.
Debt counseling: Debt counseling companies are registered as non-profit organizations. In general, they put a debt consolidation plan into place for each debtor and also provide counseling and useful information about debt management. These companies typically charge a monthly fee and ask debtors to agree not to take on more commercial debt.
When alternatives are not the answer: Avoiding bankruptcy sounds good in theory, but in too many cases, alternatives simply postpone the inevitable. Our Arizona bankruptcy law firm regularly counsels and assists debtors who have tried and failed to get debt relief through a viable alternative to bankruptcy. Because of a job loss or other life crisis, debtors in distress are often so overwhelmed by unmanageable debt that bankruptcy truly is their best option. Through Chapter 7 or Chapter 13 bankruptcy, they do get a fresh start. They find true debt relief and perhaps for the first time in many years, are able to use each month's income for that month's living expenses.
The Tempe bankruptcy lawyers at The Roll Law Office, PLLC, are willing to patiently and helpfully guide potential bankruptcy clients through consideration of alternatives to bankruptcy. A personalized review of your financial picture will help one of our Arizona lawyers advise you on the best options in your case.
Ask an Arizona Bankruptcy Attorney About Alternatives to Bankruptcy
Learn how The Roll Law Office, PLLC, can point the way to debt relief and a fresh start through bankruptcy or appropriate bankruptcy alternatives suitable for your circumstances. Contact us by phone at 602-652-2403 or 866-603-1533 or contact us online through this website.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
