Jupiter Debt Lawyer
In order to obtain many of the goods and service we need to provide for ourselves and our families, many of us rely on debts, revolving credit accounts, and other types of debts. Unfortunately, it is easy to run up significant balances on these accounts that make it hard to meet your daily living expenses. As the result, you may fall behind on your payments, which only results in additional penalties and higher interest rates. At the law firm of Nowack & Olson, PLLC, we understand what a vicious cycle this can be and how easy it is to fall into it. Our Jupiter debt lawyers work with you to find solutions that can help you regain your financial footing.
Struggling with Outstanding Debts?
According to Nasdaq reports, consumer debt is increasing at an alarming rate. The average American family has a combined total amount of debt that reaches $140,000 or more, which leaves many in a position where they struggle to meet their monthly bills and obligations. Common types of debts many of us end up incurring include:
Home mortgages: Nasdaq reports that the average amount of home mortgage debt is $173,000. As your property serves as collateral for the loan, falling behind in these payments puts you in danger of foreclosure.
Auto loans: Most people require a vehicle to get to and from school or work, as well for running errands, such as doing grocery shopping or attending doctors appointments Again, with the car as collateral, falling behind in car payments leaves you vulnerable to repossession.
Personal loans: When buying furniture and other types of personal property, getting a loan may seem the best option. Unfortunately, these types come with high interest rates and heavy penalties for late payments.
Credit card debt: Most people use credit cards for major purposes and to provide for clothing, gasoline, meals, and other living expenses. With the high interest and hidden fees credit companies charge, your minimum monthly payment is unlikely to put a dent in the balance you owe.
Student loans: The high costs of education leave many people struggling with student loan debts. According to Forbes,as of 2018 there are more than 44 million borrowers who owe a total of roughly $1.5 trillion.
Medical debts: As the result of an accident, illness, or chronic condition, you could be facing debts for hospital costs, doctor visits, and other medical expenses not covered by insurance that add up to tens of thousands of dollars or more.
Our Jupiter Debt Lawyers Are Here to Help
When struggling with unexpected situations and debts that have gotten out of control, filing for bankruptcy may be your most practical option. At the law firm of Nowack & Olson, PLLC, we can help you restructure payments, allowing you to retain possession of your home, car, or other property, while reducing and eliminating past due amounts owed on unsecured debts.
To discuss the options available in your situation, contact our Jupiter debt lawyers today and request a free, 60-minute consultation.