The “secret” fear that people have when in debt

I KNOW we’ve never met but if you are facing debt problems, I know there’s a common concern that people share when they are in your situation. As a debt relief attorney, I hear it from people who consult with me every day. 

t is this: The possibility of losing what they have worked hard for all our lives…their home, 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 debt relief 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.

Do you know anyone who may be in a similar situation, perhaps you?  Don’t despair. You don’t need to live your life in fear. Since 1997, I have helped more than 5,000 clients in finding the best solution to their financial problems. Call my office at 1-866-477-7772 and request a free evaluation. We 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.   

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