Many people in Phoenix Arizona and throughout the United States are facing tough economic times. Bankruptcy is an option to help alleviate your debt and financial problems, but you may be able to avoid filing if you consider some options. Bankruptcy is not for everyone, some people don’t qualify, some people don’t believe in it, and sometimes declaring bankruptcy is not the best option. Maybe one of the following alternatives will work for your particular PHX financial situation, or maybe you could consider several tools together to help you become closer to being debt free. Don’t you deserve a “fresh start”?
Debt relief means a change in elements of your life. You need to be ready and willing to eliminate your debt. Debt relief can be accomplished in several ways, several of the methods of debt relief can be done without filing Phoenix bankruptcy, but you may have to make lifestyle changes in order to get your finances back on track.
When starting down the debt relief path, take the time to calculate exactly how much money you need to avoid bankruptcy. Now, what are you able to contribute to that? You need to have realistic expectations and you need to know exactly where you stand – how much debt you have. Pull a free copy of your credit report and learn the details of how much you owe; review it carefully. You must know exactly what kind of debt you are up against when
considering bankruptcy and other forms of debt relief.
Taking immediate action when you realize that you are in financial trouble is important. Instead of consistently being behind on payments, you may have to take some drastic and inconvenient measures to fix the problem. Selling some of your assets is one way that you can get some extra money; valuable items such as: electronics, jewelry, and things that you have purchased that can generate extra cash that you can live off.
The best bit of advice when considering debt relief is to seek the assistance of a Phoenix Arizona professional: work with an experienced consumer credit counselor. Ask the counselor to help you work with your creditors in order to get your payments and interest rates reduced. Express your willingness to pay the debt, your desire to avoid bankruptcy, doing these things may make your creditors may work with you, as they would rather get some money than no money (which is what they would get if you filed chapter 7 bankruptcy). A credit counselor is also a good resource to help you if you need some assistance making a “get out of debt” plan. Financial planning is an essential key. A financial plan of attack may depend on how much you currently owe or how far behind you are on payments. Based on your situation, your plan of action to get rid of debt should include a spending schedule. Take a closer look at your budget and cut any expenses that you may like to have, but can live without until you pay your way out of debt.
Now that you have limited your spending and worked on the budget you next need to prioritize your debt. You might have to consider increasing your income, the simplest solution is to make more money. Is working overtime or getting part-time work a feasible option? Paying your way out of debt is work. You need extra money to whittle down the debt; you might have your own ideas for earning that extra money.
Before filing for bankruptcy, explore your alternatives to eliminate your financial deficits. Even the best efforts and best intentions, however, are not enough, and many people who have exhausted every means of paying back debt still can’t manage to make the payments, and have to consider the option of bankruptcy. An experienced Phoenix bankruptcy attorney can help you decide if filing is the right option for your situation.
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OUR PHOENIX BANKRUPTCY LAWYERS ARE LOCATED IN PHOENIX, ARIZONA, AND SERVE BANKRUPTCY CLIENTS IN SCOTTSDALE, PHOENIX, GLENDALE, TEMPE, MESA, CHANDLER, PLEASANT VALLEY, AVONDALE, CASHION, EL MIRAGE, PEORIA, SUN CITY, SUN CITY WEST, TOLLESON, YOUNGTOWN, GILBERT, QUEEN CREEK, CASA GRANDE, SURPRISE, PRESCOTT, MARANA, TUCSON, FLAGSTAFF AS WELL AS PIMA, PINAL, AND MARICOPA COUNTY.
DISCLAIMER: THE INFORMATION YOU OBTAIN AT THIS ARIZONA BANKRUPTCY LAW WEB SITE IS NOT, NOR IS IT INTENDED TO BE, LEGAL ADVICE. YOU SHOULD CONSULT A PHOENIX LAWYER FOR ADVICE REGARDING YOUR INDIVIDUAL SITUATION. OUR ARIZONA BANKRUPTCY LAWYERS AND STAFF INVITE YOU TO contact our Arizona Bankruptcy Law Firm AND WELCOME YOUR CALLS, LETTERS, AND ELECTRONIC MAIL. CONTACTING US DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP. PLEASE DO NOT SEND ANY CONFIDENTIAL INFORMATION TO US UNTIL SUCH TIME AS AN ATTORNEY-CLIENT RELATIONSHIP HAS BEEN ESTABLISHED. THANK YOU FOR VISITING OUR PHOENIX DEBT RELIEF WEB SITE.