Michigan Bankruptcy Advice – Brighton Attorney
DON’T Take a Consolidation Loan
Consolidation loans do not limit a creditor’s power and often involve high interest rates. Filing for Chapter 13 bankruptcy is a more sound way of paying off your debt — and it puts an end to harassment from creditors. In many instances the fact that you are looking to consolidate debt means that your debt load is getting out of control – a consolidation loan may only end up being the equivalent of a “band-aid”. I can’t tell you how many clients I’ve had who entered into a consolidation loan only to find out they couldn’t handle the monthly payment.
DON’T Borrow Money from Relatives
Borrowing from family members can create bad blood, break down relationships and cause additional stress during an already difficult time. It is better to work with a bankruptcy lawyer who can address debt matters from a legal perspective. As your bankruptcy attorney, I will do everything in my power to help you clear up your debt and make a new start. Additionally, there are some pitfalls when it comes to paying back relatives just before filing a bankruptcy.
DON’T Take cash advances from one credit card to make your payments on others.
Taking a cash advance on a credit card to make payments on other credit cards creates a potential non-dischargeability issue that can be difficult to clear up even with bankruptcy filing. It is better to secure a bankruptcy attorney to help you file than to try and take care of matters on your own.
DON’T Use a Credit Card to Pay Tax Debt
Paying tax debts using your credit card may seem like an expedient means of taking care of this financial burden, but it will come back to haunt you — and with a vengeance. In many instances, this will create a non-dischargeable debt.
DO Contact an Attorney
As an attorney with years of experience in bankruptcy law, I understand the fundamental issues at stake when you are facing financial crisis. People often feel lost and alone. Having helped numerous clients, I know there is a light at the end of the tunnel and that financial freedom is possible.
DO Obtain a Copy of Your Credit Report
Bring your credit report to our first meeting. This will give me an opportunity to examine your credit history and current standing and offer options that are specific to your situation.
DO File Your Tax Returns
Even if you know that you owe the IRS a lot of money, it is still important to file your taxes in a timely fashion. Not filing and burying your head in the sand will not make the problem go away. In fact, it will only exacerbate the problem.
Know your rights when you are in the grip of financial trouble. At Hensel Law Office, PLLC, no matter what your bankruptcy issue, it’s important to know you are not alone. Contact me today to schedule a free initial consultation. Get the guidance you need to avoid financial pitfalls and obtain freedom from debt. Call 877-232-9161.
