You have a full-time job. You make a decent living. You do your best to provide for your family, but it seems like no matter how hard you try, it is never enough. Most American families live paycheck to paycheck. They might have a little savings, if any at all. In the event of a medical, house, or car emergency, you do not have enough to cover the bills. Miscellaneous expenses come up every single month, sometimes a couple of times a week! So what do you do when you need money, and you simply do not have it? You could try to borrow money from a friend or family member, but they are strapped for cash, too. You can take out a loan.
Payday loans, cash advances, or credit cards are all ways people get extra money in their times of need. It might temporarily work for your situation, but then what are you going to do when you have to pay it back? Your next paycheck is already spent even before you got it, on bills, gas, groceries, rent, and more. You slowly but surely find yourself in debt. The average American has thousands of dollars of debt. If you do not pay off your cash advances or credit cards, you quickly accumulate more expenses in interest. You may even end up getting sued for the outstanding balance.
Maybe your debt does not come from payday loans or credit cards, but essential loans like a school, car, or bank loans. When you fall behind on these, your home will get foreclosed, your car will get repossessed, and then—guess what? You will still have to pay off the balance on a car you cannot even drive anymore!
Not only do you have a bottomless pit of debt, but your good name is also tarnished. Your excellent credit score goes from good, to fair, to bad within a matter of months. Even if you want to get another loan to pay off your existing debt, you are denied. You may feel like there is no way out, but debt relief is available. You just have to find it.
Debt relief comes in different forms, including debt consolidation. This debt relief program allows you to put all of your past expenses into one lump sum. Instead of paying interest on four or five different credit cards and loans, you can combine them all together to make a monthly payment that covers everything.
Another debt relief program involves hiring an attorney. Now, before you think you do not have any money to spend on an attorney, you need to know the facts. It will, obviously, cost you a little money to hire the lawyer. However, your lawyer will provide you with debt relief.
The debt collectors will stop calling you, after you hire an attorney, and will instead start calling him or her. Won’t that be nice? To stop getting the multiple phone calls a day from creditors harassing you? The calls will be re-directed to the attorney representing you, and your attorney will create a small settlement plan. This settlement can save you hundreds to thousands of dollars. In most cases, the negotiation process will allow you to pay a portion of what you owe, since it is better than you filing for bankruptcy, and the creditor getting nothing at all. If you have not paid a bill or loan for months or years, the lender will be willing to accept almost any offer, especially from a lawyer.
Debt relief is the forgiveness of debt, either partially or wholly. It will slow down your debt or stop its growth entirely. Can you imagine living with no debt? It is hard to believe it is possible, but debt relief can come to you almost as fast as you got into debt! Build your name back up into a good standing with your bank and lenders. You will be able to stop the harassing phone calls, achieve a decent credit score again, and get approval for future loans.
Your attorney can help you with your particular situation, since each person has different circumstances. No matter what got you into debt in the first place, there is always light at the end of the tunnel in the form of debt relief. You do not have to hit the lottery and spend your fortune to get out of debt! Contact an attorney to talk about debt relief programs. You will be surprised at how easy it really is to become debt free.