Why File? Alternatives to Bankruptcy

Do you need to file for bankruptcy? Maybe not.

At the Law Office of Robert Lee Hamilton, we know that while there are good reasons to file for bankruptcy, there are also good reasons not to. We leave that decision up to you. We make sure you have the honest information you need to make an informed decision that's right for you.

If you would like to learn more about your options, the bankruptcy alternatives available, or how working with an attorney can benefit you - no matter what choice you make — call or contact us today.

Bankruptcy Alternatives

If you are facing money problems and aren't expecting a financial windfall anytime soon — the one bankruptcy alternative you want to avoid is to do nothing. While seemingly obvious enough, it is easy to become overwhelmed by money troubles and do nothing. That said - here are the most common, potentially useful bankruptcy alternatives:

* Negotiate with creditors yourself. This is probably the most commonly used bankruptcy alternative, and if your debts and financial troubles have not gotten too far out of hand — it may work. Still, it can take a great deal of time to negotiate with lenders and the playing field (i.e., their leverage and experience dealing with this) is not usually level.

* Work with a consumer credit counseling service. If you don't have the time to negotiate with creditors yourself (which most people don't) or are afraid that you might get taken advantage of on your own — you may want to work with one of the many consumer debt-related organizations that are available. However, not all of these agencies are as reputable as they sound and you will want to make sure to choose one that is.

* Obtain relief through debt consolidation. In some cases, financial problems can be caused by owing money to too many creditors. This can cause payments to be missed or made late, interest rates and penalties to multiply and make it much harder to get a handle on your finances. By consolidating numerous smaller debts into one loan — you may be able to regain control. However, there are dangers associated with debt consolidation loans and you may want to consider talking to a lawyer about this before moving in this direction.
 

Local: (530) 945-2540

For a free initial consultation — call our Redding law office directly at the phone number listed above. You can also contact us by e-mail -- and when you do someone from our office will get in touch with you shortly.

Serving Redding, Chico, Shasta and surrounding Counties and communities