Financial Health?
Unpaid bills are a symptom, and a disease at once, and they speak volumes about your financial health. But you are not the only one suffering from this disease that is spreading its wings across the length and breadth of the country. Commonly seen amongst middle income families, and the worst thing would be to let the problem (the debt) grow. The consequences of financial health are unprecedented.
End of the Road?
No, almost never. There are solutions to cure your financial ill-health and many of the other pages of this website will guide you through ways of tackling it. Everything from improving relationships with your creditors, to reducing your debts, and helping you manage your money—the whole range of problems sorted out for you, right here. These are solutions that will make your today comfortable, and your tomorrow even better.
How Do I Know if I am Affected?
Your account books are a good place to start checking. Unpaid bills, repeated calls from bill collectors; signs that you are probably in some sort of a financial trouble. If you're having difficulty stretching your paycheck to pay monthly bills, you need to act Now!
Action Plan
Review your situation in detail. Check if all the pending amounts against your name valid and there are no disputes on any of the debts. Contact your creditors and inform them about your situation. Explain the reasons because of which you are unable to make timely payments. If your creditor understands your situation it puts you in a relatively comfortable situation even though you still need to be very careful. Keep in mind that there are laws in place to protect you from any sort of harassment on the part of the creditor.
Self help: First of all, stop all the excess unnecessary spending and budget your expenses. Itemize your expenses as necessary and optional. Create a spending plan which will at least ensure that you don’t accumulate any more debt. Start using your savings to pay back your debts, and also looking for any additional resources that you can think of. Additional sources can be Governmental assistance such as unemployment compensation, food stamps, Medicaid, and others.
Credit Counseling: As for the new Bankruptcy law Credit counseling is a must. Also called Consumer Credit Counseling Service, these agencies employ professionals who will provide you with the required guidance to develop an action plan to end your financial crisis. Credit counseling agencies can also get into talks with your creditors, if need be in trying to achieve some sort of a settlement, or an understanding.
Personal Bankruptcy: The decision to file for bankruptcy must be taken after much thought and serious consideration. You should take the plunge into this complex world of forms, rules and regulations if you are certain of it, and have been advised to do so. Two types of Bankruptcy options available are Chapter 13 and Chapter 7. With the new stricter law in place, there are certain criterions that one needs to fulfill in order to file for bankruptcy. Once you’ve met these criterions, the next difficult step is to choose an attorney. Attorneys at BankruptcyHome.com bring with them years of expertise in this field enough to assess the solution that meets your specific need.
Prevention Better Than Cure
It is of course never to late to stop. You need to put an immediate end to spending that exceeds your earning, regular credit purchases especially if you are able to make only the minimum payment on the monthly credit card debt. Think of it this way; will you be able to pay your next month's bills if you didn't have your job?
If your answer is no, then try our free online evaluation tool which will tell you whether you need to file for bankruptcy or not. From thereon, our attorneys will ensure that your interests are secured, your ill-health a story of the past, and you are ready to start afresh.
http://www.bankruptcyhome.com/regainfinancialhealth.htm
