Bankruptcy is necessary for some people, as sometimes things happen in life that cannot be prevented. Things like injury, illness, loss of a job and even divorce are just a few of the things that can happen that could make you financially unable to pay your bills. If you are struggling to pay your bills due to any of these things or other life-changing events, bankruptcy may be right for you. There are some things you should try before filing for bankruptcy. Read on for some helpful information.
Call Your Creditors
Call your creditors to see if there is anything that can be done to lower your bills. They may not wipe away your debt, but they may be able to lower your monthly payment or even the interest rate. If you have medical bills, ask about making lump sum payments instead of paying per month. Sometimes medical billing companies will take a lower amount if there is a lump sum amount paid to them. This can be big savings for you, so if you can, try to do so.
Call Utility Companies
A lot of utility companies will offer assistance to those in need. Call your utility companies to see if there is anything that can be done to help you. A budget plan may be put in place that can lower your payment and make it more affordable for you.
Try A Debt Consolidation Company
If you aren't getting anywhere on your own with your creditors, you can try to use a debt consolidation company to do the negotiating for you. A debt consolidation company can schedule payments and get your debts consolidated to make your monthly payments cheaper for you, as well as to help you pay your debts down (or off).
Go To Credit Counseling
You may be able to pay your debts, but just aren't budgeting your money appropriately. If this is the case, a credit counselor can help you budget your money better. This can be a big help for you even if you do end up filing for bankruptcy, as you'll know how to budget your money after you have filed and prevented a financial problem later down the road. A credit counseling company can help you learn how to live on a budget, as well as to save money.
If you need to file for bankruptcy, you should try your best to do what you can before you actually file. Filing for bankruptcy is not the end of your financial world, so if you need to file, you should do so so you can get your head above water and be able to live your life without the stress of your finances. Call a bankruptcy attorney today for a consultation to discuss bankruptcy.
For more information, contact a law office like Haven Law Group, P.C.