I’m In Debt- What are My Options?

If you are struggling with debt- you have plenty of options to select from. If your debt is small and you can manage to pay it off- then rearrange your finances and spending habits and pay off the debt. However, most individuals cannot afford to pay off debt due to personal hardships. In this case- here are your available options:

1. Meet with an experienced bankruptcy attorney and discuss debt consolidation, debt settlement, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Credit management, loan modification, etc…

2. Understand all the pros and cons associated with every possible option BEFORE deciding which route to go.

3. Do not give up hope- debt management and credit reconciliation is a lengthy ( and sometimes expensive) process. But- you will end up paying less and not have to worry constantly if you follow these steps.

4. Lastly- when you finally pay your debts or get the debts discharged- it is time to let go of everything you knew about money before. Redefine your values and priorities. Create a spending plan and STICK to it! Only spend what you have until your credit is on par. Always pay bills on time. Learn of other ways you can make money besides a 9-5 traditional job. Learn about investing in the market, start saving for your retirement (401K or similar), have an emergency fund in case you lose your job, consider bonds, etc.

No matter what you decide- the most important fact to remember is that money does not define you. Having less money does not mean you are worthless or stupid. Money is just a business transaction and some people are not as good at it as others. Remain a responsible adult and continue to make good financial choices (based on needs instead of wants) and soon you won’t have any debt related worries.

Fridlin & Associates, P.C.

1517 Voorhies Ave, Suite 4

Brooklyn, NY 11235

(718) 372-4400

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Fridlin & Associates, P.C. is a financial law firm for individuals and small businesses in metropolitan New York. If you or your business face a problem concerning bankruptcy, debt settlement, loan modification program, the sale and purchase of residential or commercial real estate, landlord/tenant disputes, enforcing your rights as a creditor, the sale and purchase of a business, or employment litigation, Fridlin & Associates stand ready to provide the solution that protects your best interests. We can help you: Eliminate Debt! Stop Foreclosure! File for Bankruptcy! Apply for a Loan Modification Program! Stop Wage Garnishment! Stop Lawsuits! Eliminate Judgments! Eliminate or Reduce the second mortgage on your home! Reduce the mortgage on your investment property to its fair market value! Eliminate your obligation to pay creditors and medical expenses! Eliminate business loans! Release Frozen Bank Accounts! Stop harassing phone calls! Please call 718-372-4400 today for a free consultation. We have appointments available Monday through Friday and your first visit is free. Fridlin & Associates, P.C., also provides legal representation on wage dispute matters under the Fair Labor Standards Act in both federal and state courts. Learn more about Elaine Fridlin and Fridlin & Associates here. If you’re interested in bankruptcy as a potential solution to your debt management problems, you can learn more about bankruptcy for both consumers and businesses here.

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