BEING in debt can be one of the most stressful situations you will ever face in life. It happens to everyone although you may feel like you’re the only person on the planet going through what you’re going through. But let me assure you that you are not alone in your struggle.
The first step in dealing with the stress is to acknowledge that there is a debt problem. Many times, people are in denial because they do not want to face reality. This will not help you and will only make things worse eventually. Usually, debt creeps up on you and builds slowly over a period of time so you may not even be aware of how serious the problem is until you look at the numbers. In my office, sometimes when I ask people how much they owe, I am surprised to hear that they don’t even know anymore. In trying to avoid the issue, they have lost track of the significant amount of debt that they have accumulated! So as long as they are able to juggle their monthly payments before they get sued by bill collectors, they think they are still “OK”.
Change is always difficult. In a lot of cases that I see, people know that they need to make some big changes in their lives in order to get out of debt. This may mean downsizing to a smaller home, moving their kids from a private school to a public school, selling a car that they can no longer afford, etc. This creates a lot of stress because most people feel comfortable where they are and the slightest suggestion to them that they need to make some changes in their lives is something that they are not prepared for- both mentally and emotionally. This can lead to feelings of frustration, anxiety, helplessness and sometimes even depression.
Instead of wallowing in despair, a better alternative is to seek immediate help to know your options. You may be afraid or embarrassed to do this. I understand. But doing nothing is worse because you may have important things at stake. Your home, job, bank accounts, assets, etc. may be exposed to creditors who take legal action against you. If a creditor obtains a judgment against you, your wages can be garnished and your bank accounts levied. Your house can end up in foreclosure if you’re behind in payments and are not doing something about it.
Filing bankruptcy may be a solution for you to resolve your debt problems once and for all if there are no other options available. If you’re doing your best to pay but just can’t, you may have bill collectors calling you every day. Don’t let them make you feel like a criminal for being in debt. Being in debt doesn’t make you a bad person. Bad things happen even to good people. Life can be unpredictable at times and at one time or another, everyone faces financial challenges. It’s not the end of the world. You can rise above your debt problems and start over.
For a free consultation, call my office at Toll-Free 1 (866) 477-7772. We have offices in Los Angeles, Pasadena, Cerritos and Valencia. See me personally and I will help you explore all possible solutions to your debt problems.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.