Debt Management Does Not Have To Break You
We live in a society where debt is a fact of life for a great many people. Home mortgages, student loans, business loans, car loans and credit cards are familiar mainstays in our financial landscape. Responsible and sustainable debt management often means that one or more of the following is the case:
- Reasons for debt have to do with long-term financial gain — such as home value appreciation or growth of a profitable business.
- Other debts, such as medical debt and home repair loans, do not build value but may seem necessary, unavoidable and reasonable.
- Student loan debt does not exceed expected benefits through postgraduation earnings.
- Monthly income allows for timely repayment of debts without incurring excessive interest.
Successful debt management takes into account asset protection as a top priority. That is, when you are able to manage your debt load effectively, your home, car and bank accounts remain out of reach of debt collectors under normal circumstances.
When the tables are turned and debt begins to manage you, then you may realize you have a problem. Personal property may be at risk. Bank accounts are unstable. You live paycheck to paycheck, meanwhile making little or no progress whittling down your debt load. Creditor harassment may become a source of daily stress.
For more information, read our article, “Tennessee payday loans make bad financial situations worse.”
Don’t Wait — Contact Our Debt Management Attorneys Today
From law offices in Cookeville and Nashville, debt management lawyers at Lefkovitz & Lefkovitz can evaluate your situation and recommend the options right for you. Debt settlement negotiations may be an option in your case. Chapter 13 bankruptcy may be a more comprehensive and manageable way of restructuring and repaying debt. You may be a good candidate for a Chapter 7 bankruptcy that can eliminate most or all of your consumer debt.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.