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Non-Bankruptcy Options

NON-BANKRUPTCY OPTIONS

Your unique circumstances may mean that bankruptcy is not the best option for you. Each case must be carefully analyzed to determine if a bankruptcy is right for you or if some other option would better suit your needs.

Loan Modification-  If you are delinquent in your mortgage payments, we may be able to come to an agreement with your mortgage company to bring your payments current, or re-write your loan. The loan modification process is very lengthy, requires a lot of documentation and is very time-consuming. An attorney can help navigate the process, keep a handle on the paperwork and take care of the follow up.

Debt Negotiation-   Sometimes you need help with your bills, but don’t need to file a bankruptcy. It may be possible to negotiate with your creditors to find ways to satisfy your debts other than the creditor’s regular payment schedule. It may be possible to negotiate better interest rates, forgiveness of penalties and/or fees, lower monthly payments, or acceptance of a lump sum to settle the debt. All of these options require careful consideration of the effect on your overall credit and the possible tax consequences of each option.

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