I KNOW we’ve never met. But there’s a common fear that everyone shares when they’re in debt.
As a bankruptcy attorney, I hear it from people who consult with me every day. It is this: The possibility of losing what they’ve worked hard for all their lives…their homes, their savings, their retirement money, their business, etc. Why is this fear so common?
Personally, I think the fear comes from a feeling of losing control. As a bankruptcy attorney, I deal with a lot of clients who are feeling very vulnerable because of the financial situation that they’re in. They could be facing a financial crisis for the first time in their lives and they don’t know what to do.
If you are facing serious debt problems, a foreclosure, a lawsuit, judgment or a pending wage garnishment, it’s not the end of the world and chances are that you have options that you didn’t even know existed. It may be possible to settle your debts out of court or as a last resort, file bankruptcy to either wipe out or reorganize your debts.
Recently, a couple came to my office for debt help. They’ve just been assessed huge taxes by the IRS and they had to enter into a payment plan for that reason. But they were already behind on their mortgage payments, not to mention the credit card debts that were piling up. One car just broke down and needed replacement.
Over the last few years, they’ve been borrowing money from all sources just to keep their heads above water, including their 401K plans. The 401K loan payment deductions from their paycheck are not helping. If you were in this situation, what would you do? The tremendous debt burden has put a strain on their marriage and has caused a lot of grief at home.
I helped this couple reorganize their debts under Chapter 13. We came up with a payment plan that combined all their debts into one low payment every month- a payment that they could afford. This has allowed them to sleep better at night knowing that they are paying their creditors the best they can. More importantly, they now have peace of mind knowing that they will not lose their home and everything they’ve worked so hard for.
If you need help figuring out your options, I’d like to help you. There is no reason to live in fear and not knowing what the future holds for you. The worst thing that you can do at this time is to do nothing because if you do, things tend to get worse especially if you have assets or property that may be at risk. Call us for a free consultation at Toll-Free 1-866-477-7772. I have offices in Glendale, Cerritos and Valencia.
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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.