The lawyers at Orville & McDonald Law have filed thousands of bankruptcy petitions over the past almost 30 years. Many people don’t consider bankruptcy until AFTER they have exhausted all of their resources. We, at Orville & McDonald Law, encourage you to come and speak with us, in a FREE consultation, about bankruptcy and bankruptcy alternatives BEFORE you exhaust your resources.
Often we speak with clients that have borrowed from friends, relatives, their 401(k) or IRA retirement investments, and the equity in their home in an attempt to manage their credit card, car, mortgage and student loan payments. Sometimes they have borrowed from their life insurance or sold personal items to keep up with their monthly payments. This strategy depletes your assets (most of which would have been protected in a bankruptcy) and can lead to ruining relationships with your friends or relatives.
Others have tried to work out deals with their creditors to pay only a portion of their debts, or have contracted with a company promising to help them with “debt adjustment”. This strategy is rarely successful, and usually results in a ruined credit score, serious tax consequences, and ultimately the need to file bankruptcy anyway.
We can help come up with a plan that will work for you and your unique financial situation. It may be a Chapter 7 or Chapter 13 bankruptcy. Or it may be that the best solution for you is not filing bankruptcy at all.
Seeking early information and advice from an experienced bankruptcy attorney, one who will take the time to review your particular situation and come up with the best strategies to deal with your debt, is the smartest, most cost effective first step you can take to eliminate your debt.