Experienced Debt Relief Counsel
For people overwhelmed by debt, bankruptcy is a safe way to get their finances in order and make a fresh financial start. Bankruptcy is a legal tool for eliminating and restructuring debt. In fact, it is a right provided by federal law.
However, depending on your income and type of debt, bankruptcy may not be the right choice. The law office of Rochelle D. Stanton Attorney at Law can discuss your options with you. To find out if an alternative to bankruptcy is a better choice for you, please call a St. Louis bankruptcy alternatives attorney at 314-262-4390 or contact us online.
Options Other Than Bankruptcy
We recommend that you stay away from for-profit credit counseling programs or payment plan companies. Many of them do not provide any services that you could not do on your own, and they will charge you costly fees in the process. Some of these companies are simply scams and will cause you to lose money and make your debt problems worse.
If you are having trouble making your mortgage payments, you may receive help from a third-party grassroots company such as Better Family Life, United Way or Beyond Housing. In general, nonprofit organizations provide trustworthy advice and genuine help for people in debt.
Working directly with your mortgage lender is another option. However, people often have difficulty understanding the mortgage documents and terms. Others find that their mortgage lenders are hard to work with.
If you are able to work with your lender, you can request that your loan be modified. A loan modification lowers your payments by methods such as reducing the interest rate, extending the terms of the mortgage, forbearance, reducing the principle balance or deferring some of the principal.
For more information, please visit our avoiding foreclosure page. To make an appointment with a Missouri lawyer, please call 314-262-4390. Your consultation is free.
