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When Is Bankruptcy A Viable Option

Bankruptcy is the first answer that comes to mind when it comes to financial difficulty. It's the best answer when the bills never stop coming, creditors calling every hour of the day and night, and the income is never enough. Before you choose bankruptcy, consider learning about alternatives to financial stress that may work better for your situation.

Debt Consolidation

Some credit cards and loans offer the option to combine all debts into one manageable payment. Consolidation is just that - combining two or more loans, credit cards, medical bills or additional debt into one large sum that's easier to manage.

Credit Counseling

In addition to contacting us, we may recommend a credit counselor to provide additional insight into your financial hardship. After listening to your situation, the counselor will create a course of action to provide debt relief. It may involve changing your spending habits, choosing another bankruptcy alternative or a combination. It is vital that you follow the plan accordingly for best results.

Debt Management

Most credit counselors choose debt management as a solution. In easy to pay monthly premiums, you will begin to climb out of debt. The money paid monthly will go toward a counseling organization. The counseling organization splits the payment between the many creditors you owe.

Loan Modification Programs

If your home is the reason why you're in debt, consider loan modification programs. Some banks and mortgage companies are willing to accept lower payments through the hardship department. Simply call your lender to explain your financial struggles and ask to see if you qualify for a loan modification program. You can also speak to credit card, loan, medical or another debt creditor about lowering debt owed on those accounts.

More options - such as debt settlement - are available. When every resource is exhausted, that's when bankruptcy is a viable option.

Allow us to discuss these options with you in greater detail. Come in for a free consultation. No matter your situation, there is always a solution to handle your financial problems.

  • Our Guarantee to Our Clients

    We promise to represent your best interests and keep you fully informed.

    Read Our Guarantee
  • Bankruptcy eBook

    Get a FREE eBook to become more familiar with the bankruptcy process.

    Download It Here
  • Our Video Center

    Click here to access a list of our firm's videos.

    Get More Information
  • When You're Ready To Talk

    We're ready to listen. Contact us to receive a free initial consultation.

    Request a Consultation

When You're

Ready to talk

Our firm is ready to listen. Call for a FREE case consultation.

Call Toll-Free 888.910.6652

"The Law Offices of James C. Shields is located in Torrance and proudly serves clients all throughout the South Bay including:

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Law Offices of James C. Shields - Torrance Bankruptcy & Estate Planning Attorney
Located at 21707 Hawthorne Blvd, Suite 204
Torrance, CA 90503.
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Phone: (888) 910-6652
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