Everyone makes New Year’s resolutions to themselves each year but not many people can actually boast that they accomplished them. This year should be the year that is different. If you are in debt, make finding debt relief your New Year’s resolution and stick to it! With the right preparation, knowledge, and mindset, you can make it happen.
When you are pursuing debt relief, keep these three things in mind:
- Pay off what you can: Sometimes debt can seem insurmountable only because it is seen as one giant mountain of financial obligations. Looking at how the debt built up and individual bills makes it much more manageable. Figure out which pieces of your total debt are high priority and keep them in focus. Expect to spend less on yourself and on fun distractions as you chip at your debt.
- Use debt settlement: Before you start throwing your money at your debt and hoping it reduces over time, you should look into debt settlement strategies. Through debt settlement, you will negotiate with your creditors directly to try to reduce how much you owe, lower interest rates, or give yourself a more lenient repayment timeline. You might be surprised how much a creditor is willing to budge when they realize that if they don’t budge, they’ll wind up getting nothing at all.
- Consider filing for bankruptcy: In dire financial cases, bankruptcy might be the first and last option to truly tackle debt relief. It is understandably unnerving to think about using bankruptcy due to all the negative social stigma around it – but once you look at the details, it really isn’t that intimidating and can provide you with huge benefits that otherwise would’ve been inaccessible. Don’t run from bankruptcy just because people tell you it is bad.
Make “researching bankruptcy and debt settlement” a secondary New Year’s resolution to “get out of debt” and write it somewhere you won’t forget. To get pointed in the right direction, you should contact the Law Office of Simon Goldenberg, PLLC and speak to our New York debt relief attorney. With multiple selections to Super Lawyers® and a 10.0 “Superb” Avvo rating, you can trust Attorney Goldenberg with your case. Call 888.301.0584 today.