Are You in Need of a Debt Lawyer?

Written by admin on . Posted in Living trusts, Real estate law, Wills

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The stress is never ending. You go to be worrying about bills that are unpaid, and you wake up in the morning thinking about property taxes that are due in just a few weeks. Although you never thought that it would come to this, you fear that you are going to have to file for bankruptcy. If your husband had been more up front with you about his job status you would not have gotten into this mess, but the fact that he has been unemployed for the last three months means that he is no longer receiving a paycheck or a severance package. With no more income coming from his former employer, the beginning of summer is looking very bleak.
A friend at work suggested that you immediately call a debt lawyer and ask for advice. And while it was a phone call that you dreaded making, you at least feel like you now have a plan. With an appointment scheduled with the debt lawyer at the end of the week, you realize that you are still in for some drastic lifestyle changes, but you know that you will at least be getting some legal advice about what the next steps should be.
Do You Have an Extreme Amount of Debt That Is Keeping You Awake at Night?
If you are burdened with credit card or student loan debt, you are not alone. We live in a time when many American families are barely able to live from one paycheck to the next. Student loan debt, credit card debt, and high interest home loans have people in scary situations. For some, the only solutions may be found with debt lawyers. Consider some of these facts and figures about situations that might lead an individual to needing the services of a debt attorney:

  • In the year 2014, there were 1,117,426 foreclosure filings and 327,069 home repossessions. Home loans are often a significant portion of a families expenses. In the event that you find yourself in a loan with interest loans that are growing increasingly higher, you may need to consider the services of a debt lawyer.
  • Nearly 42% of all American households do not have enough in liquid financial assets to support themselves for three months. Although we all know that this is the recommended amount of money that we need to have set aside, many Americans have themselves in a financial situation that is quite dire.
  • Estimates indicate that one child in every classroom in America is at risk of losing the family home because parents are unable to pay the mortgage. This means that the financial situation in America is also an educational issue. Children who live in financial turmoil often suffer from stress and may struggle to focus on school.
  • Even one foreclosure can result in as much as an additional $220,000 in reduced property value and home equity for nearby homes. As a result, one family’s home foreclosure problem affects more than just that one household.
  • Debt collection agencies can make a person’s life very stressful. If you owe money on past due accounts you may be the focus of the more than 4,500 debt collection agencies in the U.S.
  • Home loans, student loans, and high interest credit card debt plaques many families in this country. Even when a family attempts to eliminate their debt by increasing income, the high interest rates can still make this process difficult.
  • Every month that finds you making less than what you owe takes you one more step toward financial disaster. Is it time that you contact a debt lawyer and find out what your options are? With legal help you may be able to find a way to find a solution.
  • Lenders and investors lose money on foreclosures. In fact, losses range from 20 cents to 60 cents on the dollar. This translates into lenders typically losing $50,000 or more on one single foreclosure.
  • People need to understand their own financial situation. Are you struggling to make it from paycheck to paycheck? The decision to seek legal assistance sooner rather than later is often in your best interest. Financial failure impacts your children, your mental health, and your future. Do you need help finding solutions?

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