Jupiter Debt Consolidation Lawyer
In our credit driven society, it is easy to rack up excessive amounts of debts. Taking out a mortgage, refinancing your home, and having large amounts outstanding on various personal loans and credit cards can leave you struggling to meet your monthly obligations. Consolidating these debts may be an answer but you have to be careful to avoid certain methods, which can end up leaving you in an even bigger bind. At the law firm of Nowack & Olson, PLLC, our Jupiter debt consolidation lawyers help you find sensible solutions to break the debt cycle, helping you regain your financial security.
Debt Consolidation Schemes that May Do More Harm than Good
Dealing with overwhelming debts and struggling to make minimum payments leaves you in a vulnerable place, Unfortunately, there are individuals and companies that would use the position you are in to take advantage and line their own pockets. According to the Federal Trade Commission (FTC),some of these companies are outright scams, while others often have hidden costs and outrageous fees. Methods they use which could end up hurting you in the long run include:
- Bundling your debts into one large monthly payment, which is not likely to fit into your budget and can increase the likelihood of default;
- Arranging payment terms on the various balances you owe, which leave you paying high interest rates and penalties for years into the future;
- Encouraging you to dip into retirement accounts to pay off debts, which is never a good idea;
- Advising you to refinance your home or take out additional personal loans which use your property as collateral, which only adds to your debt and increases the odds of legal actions such as liens, foreclosure, and repossession.
We Offer Legitimate Ways to Consolidate Your Debts
At the law firm of Nowack & Olson, PLLC, our legal team works to find legitimate ways to resolve your outstanding debts, helping you regain financial security in the most effective and efficient manner possible.
In many cases, filing for bankruptcy through the Florida Court is your best option. This can allow you to eliminate unsecured debts completely, while renegotiating interest rates and reducing payment amounts on items such as car loans and mortgages. Our Jupiter debt consolidation lawyers can help determine which of the following options may be right for you:
- Debt reorganization: For those with a steady income, Chapter 13 bankruptcy can allow you to keep items such as homes, cars, and other property, while reducing your debts to levels you can afford.
- Debt settlement: For those with unexpected job losses or reductions in income due to personal issues and health concerns, Chapter 7 bankruptcy offers you a fresh start by letting you liquidate certain assets while eliminating debts
Contact Us Today for Help
Before taking steps that could worsen an already bad situation, contact our Jupiter debt consolidation lawyers first. At the law firm of Nowack & Olson, PLLC, we can arrange a free, 60 minute consultation to discuss the best ways of dealing with your outstanding debts. Call or contact us online today.