When Debt Overwhelms You

Debt can take over your life. If you have huge amounts of debt and have no idea how to deal with the situation, here are some useful strategies to keep in mind.

Move Past the Guilt

Before you can start moving forward, you need to do one thing: you need to absolve yourself of the past. No good will come out of constantly beating yourself up for bad decisions. It is done. Mistakes or just life problems happen, and now the best thing to do is think of the future. That is the right attitude to take if you want to find a solution to your debt problems.

Know How Much You Owe

It is time to make a list of everything you owe. Put the amount down right along with other equally essential information like the creditor, the total amount, the monthly payment due dates and more. Once you have all that in one space, you can try to come up with a plan with a bankruptcy lawyer in Phoenix.

File for Bankruptcy

If the amount is simply too big for you, then consider filing for chapter 7 bankruptcy in Phoenix, AZ. Also referred to as liquidation bankruptcy, this may be the right move for you. What happens is that the court will pick a trustee who will look after your case. The trustee must take your unprotected assets (most assets are protected), sell them, and distribute the funds to your creditors. This option gives you a chance for a fresh start by allowing you to keep the exempt property and eliminating debt.

Hire a Lawyer

The best way to figure out how you can file for a chapter 7 bankruptcy in Phoenix, AZ is to get a lawyer. Securing the services of an attorney from a debt relief legal firm can provide you with the guidance you need to maneuver through the entire process. With legal counsel to help you understand the pros and cons of filing for bankruptcy, you are much closer to achieving your goals. That is: to not let debt win over you and your life.

Recognize the Signs

Do not let debt get the best of you. If you need help, then recognize the signs. The sooner you seek out help, the sooner you can get started on turning your life around. Call a debt relief law firm like Law Office of Larry P. Karandreas and talk to any of our lawyers about chapter 7 bankruptcy in Phoenix, AZ. Discuss your options with us today.

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