A Debt Relief Intervention

: Chris Lee Law Firm

  Filed under: Debt

debtWhen you are significantly in debt it can be a devastating experience. Although there are many ways to get yourself out of debt, many people fail to act until it is too late. However, before giving up or needing the help of bankruptcy protection, realize that just following a few simple steps can put you on a path to finding debt relief

Admitting The Problem

The first step to getting out of debt is admitting that your debts are a problem. Many people are of the mindset that their debts “aren’t that much” or that they “will find a way” to pay them each  month. The truth is, if you are unable to make a payment or make payments late for more than 2 months in a row, your debts are a problem.

Taking Action

Once you know your debts are a problem, get moving. It isn’t uncommon for people to feel like they can’t do anything about their debts, or that their situation is hopeless. This self-defeating mindset is not helpful and is actively keeping you from achieving your financial goals.  Two simple actions you can take today to start the debt relief process are (1) contacting your creditors to discuss a repayment arrangement and (2) contacting a debt relief agency for a consultation about your debt situation.

Following Through

If you were able to negotiate a repayment with your creditor directly then commit to following the plan. Creditors are not required to negotiate with you and are free to allow you to default, leaving you with delinquency fees. Your situation will only get worse if you negotiate a payment plan and fail to stick to it. If you decided to use the help of a debt relief agency, it is important that you follow the steps outlined by the company.

Your debts require your action to be resolved. Make sure you stay focused and work towards repaying your debts each day. Getting out of debt is a daily battle that requires effort and commitment.

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