Bankruptcy isn’t only your option if you’re trying to get out of debt in Florida. Before you file for Chapter 7, you can try a number of debt relief options that might make your finances more manageable. If you successfully get your debt paid off, you can forget about bankruptcy and focus on rebuilding your credit score.
What are the different types of debt relief?
Negotiating with your creditors is one way to achieve debt relief. If they think it will make you more likely to pay off your debts, your creditors might be willing to negotiate a lower interest rate or a better payment plan. You could also have a debt defense attorney deal with creditors on your behalf.
If negotiations don’t work, you can also try different payment methods. One common method is consolidating all your debts into one single loan. This is accomplished by taking out a loan that covers the rest of your debts, paying off those debts, then focusing on one lender with a single interest rate. This makes your finances much easier to manage.
If all else fails, you might be able to file for bankruptcy. However, not everyone is eligible to file, so you may want to talk to an attorney first. Keep in mind that you’ll have to pay additional fees during the filing process.
How can you get creditors to stop harassing you?
Some creditors refuse to back off even when you try to negotiate with them. If you’re tired of being harassed by creditors but aren’t ready to file for bankruptcy, an attorney may talk to creditors on your behalf. They might get the lenders to stop harassing you and negotiate a new payment plan. Most creditors will back down when they realize that you have an attorney on your side.