As someone who lives in Florida and has a financial situation that has become too much to handle, you may be working through your options and trying to decide whether filing for bankruptcy might help you get the fresh financial start you need. While, for some people, filing for bankruptcy can be a great first step toward rebuilding your finances, the process is not necessarily for everyone, and it may serve you well to explore other options before making your decision. At Kingcade Garcia McMaken, we are well-versed in both the bankruptcy process and bankruptcy alternatives, and we have helped many people figure out what option might best fit their needs.
According to CreditCards.com, one avenue you may want to consider taking as an alternative to filing for bankruptcy involves trying to negotiate with your creditors in an attempt to make your debt more manageable. You may be able to contact your creditors directly to negotiate a lower payoff amount than you owe, or you may be able to work with a debt settlement agency to have representatives from it advocate on your behalf.
Some debt settlement agencies are not particularly ethical, however, and they may make false guarantees to you about getting your debts paid off for certain amounts to try to get you to sign on with them. Your creditors do not have to agree to the debt settlement agency's proposal, however, so be extremely careful and do your research before agreeing to work with one.
You may, too, want to consider other possible alternatives to filing for bankruptcy, which might include obtaining a personal loan with a low-interest rate or relocating to a less-expensive home or area, among others. You can learn more about avoiding bankruptcy on our webpage.