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Alternatives to Bankruptcy

Are you worried about filing for bankruptcy? Are you concerned that filing for bankruptcy may not be the best way to handle your financial issues? Do you wonder what other options are available to you? When creditors and vendors are knocking incessantly at your door or calling and leaving urgent messages, learn how you can quell the noise and get the situation handled legally and efficiently by seeking bankruptcy counsel that can steer you in the most expeditious and sensible direction. Figure out your game plan with legal advice so you will be well prepared and not blind-sided.

Filing bankruptcy Chapter 7, Chapter 11, or Chapter 13, depending on your circumstances are options, but there may be alternatives to consider that may serve you better. Whichever way you decide, seeking legal counsel to help with your decision-making is highly advisable in making sure you use the approach that is best for you. Call us today.

One often available alternative for a specific debt is to renegotiate a new repayment plan with your creditor. Creditors are motivated to seek alternative solutions to filing bankruptcy because increasing the likelihood of repayment versus the chance of having the debt discharged in bankruptcy is preferable. The prospect of a debtor filing for bankruptcy will motivate some creditors to accept a lower monthly payment, longer-term repayment schedule, or a reduced the interest rate. The creditor may receive repayment at a more relaxed rate for the debtor, but something is better than potentially nothing or far less than face value if the debt is discharged in Chapter 7 bankruptcy or refinanced by a Chapter 13 bankruptcy court-approved repayment plan.

Learn about alternatives to bankruptcy and evaluate your options with an experienced bankruptcy attorney firm that has effectively dealt with a broad spectrum of bankruptcy and insolvency situations. Get in touch with us today.

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