There is nothing more stressful than knowing that you cannot pay the mounting levels of debt that you are facing. When the inability to pay your debt leads to the repossession of assets, the threat of foreclosure, or even a lawsuit filed against you to reclaim payment, you may feel terrified about what your future will look like, and be unsure of where you can turn for help. At the Van Den Heuvel Law Office, we want to remind you that you are not alone. Our experienced bankruptcy lawyers can help you to explore options for getting out of debt, including filing for chapter 7 or chapter 13 bankruptcy.
Your Options When Debt Is Crushing
If you are drowning under mountains of debt, you need to take action immediately – the longer you wait to take control of your debt, the worse your situation may become. We are equipped with the legal knowledge and skills to help you understand your options, including:
- Debt negotiation. We can help you negotiate with your lenders to develop payment plans that are more feasible. In many cases, creditors are are willing to work with you to negotiate, as your only other option may be bankruptcy. If a creditor forces you into bankruptcy, they know that they may get far less in repayment than they would by working out a repayment plan with you now.
- Debt consolidation. One way to help you pay back your debt is debt consolidation. This is the process of taking out one, large loan in order to pay off all of your other debts. Making payments on one loan can be easier than trying to manage numerous loans at once.
- Mortgage loan modification. If your debt is preventing you from being able to make your mortgage payments on time or in full and foreclosure is possible, we can help you to by offering mortgage loan modification counseling services, where we work with you and your lender to renegotiate the terms of your loan.
- Filing for bankruptcy. Filing for bankruptcy is the option that is best when the above options are unsuccessful. While filing for bankruptcy can be a scary thing to do, it can provide you with an automatic stay – which stops creditors from contacting you – and dissolve some of your debts. It also has financial consequences, such as damaging your credit score, and shouldn’t be pursued without legal advice, first.
Our Bankruptcy Attorney Is Here to Advocate for You
Understanding your options when bankruptcy is on the table can be overwhelming. If you are struggling to pay thousands of dollars’ worth of debts, let us help you. We provide debt counseling services that you can count on, and will guide you through the process of filing for bankruptcy, and it’s advantages and disadvantages. To learn more, call our law offices today at 616-698-0000. You can also use our online form to write us a message at your earliest convenience.