Get a Free Consultation with Our Bankruptcy Lawyer to Find Relief
A part of human nature is our refusal to make a change until the very last moment. Most of us would like to believe we would do the right thing before we absolutely had to do it, but we all know life doesn’t always work out that way.
When it comes to debt, it’s very unlikely to see someone take control of the situation before the problems pile up. Why? Because there’s often another creditor willing to help you get into more debt. And when you finally reach your debt limit, it’s tempting to stick your head in the sand, which just seems easier than stopping the whole charade and proactively dealing with your debt.
The truth, however, is this: There will come a time when there are no options left. That time arrives when you finally decide you’ve had enough of the worry, stress, threats of lawsuits, and all the feelings that come with being in financial hot water.
There is a solution: you can decide the water is hot enough right now. You can take control of your debt with the help of a bankruptcy attorney near you and solve your debt troubles, start fresh, and reap the benefits of taking action. All you need to do is schedule a free consultation to get started.
You Have Options, Beginning with a Free Consultation
The solution to your debt issue typically takes one of two forms: debt settlement or bankruptcy. In Chapter 7 bankruptcy, you can see your unsecured debt (such as credit cards and medical bills) discharged, which means it will become legally uncollectible (no more calls, lawsuits, garnishments, etc.). In debt settlement, you can typically settle your unsecured debt for half of what you owe. The Wink Law Firm can help determine which of these choices is the most cost-effective for you, beginning with a free consultation.
Here’s how Chapter 7 bankruptcy works in three simple steps:
- Determine whether you qualify: Your bankruptcy lawyer at The Wink Law Firm walks you through the estimated cost of bankruptcy for you. This means reviewing your assets to determine what, if anything, is unprotected and would cost you in bankruptcy. This also means running your income through the “means test,” which determines your ability to repay creditors based on income and your eligibility for Chapter 7 bankruptcy. With this analysis, The Wink Law Firm can advise you on the costs and benefits of both Chapter 7 (if eligible) and Chapter 13 bankruptcy.
- File for Chapter 7 or 13 bankruptcy: If bankruptcy is your most cost-effective debt relief option, you can file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Once you do this, you are legally protected from all collection activity by your creditors.
- Find a brighter future: You can be eligible for a mortgage and earn a 700 credit score within two years of filing for bankruptcy.
Here’s how debt settlement works in three simple steps:
- Strategize with our bankruptcy lawyer: The Wink Law Firm’s bankruptcy attorney near you will help you determine how much you will need to settle and the timeframe in which you’ll need those funds. This will help you know what to expect and develop a plan to access the funds for settlement, which may come from a retirement account, help from family, or simply be saved over time when you stop paying your debt.
- Negotiate: Our bankruptcy lawyers will negotiate with your creditors, so you only have to pay back about 50% of your total debt as a lump sum. The Wink Law Firm advises clients to settle debt with lump sum payments whenever possible because these will typically enable you to settle for less and reduce the risk of default that exists with a payment plan settlement. If you fail to make all the payments in a payment plan settlement, you may lose your settlement deal and have to pay back 100% of your debt plus interest.
- Paper trail: Once you agree to a settlement, The Wink Law Firm will get documentation of the settlement terms and advise you with payment instructions. And once payment is made, The Wink Law Firm will follow up with the creditor to get confirmation of the settlement. This will help ensure that your settlement is official and final.
Get the most cost-effective solution: The Wink Law Firm will help you determine the most cost-effective debt relief option for you at a free consultation. If paying back 50% of your debt is more than the amount it would cost to file for Chapter 7 bankruptcy, we will recommend Chapter 7 to save you money. If your income or assets are such that bankruptcy would require you to repay more than half of your debt, we will likely recommend that you pursue settlement of your debt.
Get Out of Hot Water: Schedule a Free Bankruptcy or Debt Settlement Consultation
If you’re ready to take actions that will have a truly positive impact on your financial future, a consultation with our bankruptcy attorney is available now.
We don’t do temporary band-aids. We provide actual relief from the dangers and emotional distress caused by debt. We find a solution that will get your debt discharged.
The Wink Law Firm’s bankruptcy attorney near you can also help resolve the following debt situations:
- Tax debt
- Chapter 7 and 13 bankruptcy
- SBA EIDL loan debt
- Student loan debt
- Business debt
We look forward to finding the right solution for your particular situation. Schedule a free consultation to find out how our expert bankruptcy lawyer can help you. Contact us online or call us at (303) 410-1720.