Which Debt Management Solution is the right one for you?
A debt management solution that would enable you to become debt free and back on the road to prosperity is not impossible to achieve. There are multiple options available to you, but it is a difficult decision to make under pressure and with no previous experience. An experienced debt attorney can review your situation, explain the options available to you and help you make an informed decision on this particularly important matter. At Guidestone Law Group we have the knowledge and experience to handle all aspects of your debt situation and achieve the best outcome possible for you.
Bankruptcy
When your debt levels become unmanageable bankruptcy may be an option that you need to consider. There are two types of bankruptcy that are commonly applied to consumer debt: Chapter 7 and Chapter 13. If your income situation is one where you will not be able to reasonably repay the money owed a Chapter 7 liquidation bankruptcy would sell off your assets and the proceeds are then applied to outstanding debt with the remainder discharged. Alternatively, if you have income and a restructuring of your debt with a repayment plan of 3 to 5 years would make it more manageable Chapter 13 bankruptcy may be the right solution.
FDCPA
FDCPA is the commonly used abbreviation for the Fair Debt Collection Practices Act which is a federal law that applies to the collection of consumer debt by 3rd party debt collectors. Your rights under this law provide for protections against debt collection harassment and when they are breached you have the right to hold them accountable. The law outlines many provisions which must be adhered to including both matters of basic decency and technical aspects that legal representation from Guidestone Law Group can ensure are not breached, protecting your rights.
Debt Negotiation
An option available to you that is often overlooked and may be the best place to start when looking for a solution to your financial situation would be to come to an agreement with your creditors through debt negotiation. The costs of litigation and financial risks to the creditor when bankruptcy is declared often mean they would be open to an alternative agreement. Guidestone Law Group attorneys will negotiate with your creditors for you and it is possible our experienced negotiators could settle your debt for a fraction of the amount currently owed.
Litigation Defense
When unable to collect on consumer debt through other actions creditors may decide the best way to handle your case is through a lawsuit. When you have been served a summons, you will have little chance of a judgement in your favor if you do not defend yourself. In order to make sure that all your rights are protected, and the best possible defense is presented on your behalf you need to have an experienced legal team on your side.
Contact Guidestone Law Group now to review your options. Take action, manage your debt crisis and relieve the stress with our no-obligation consultation today.
