Alternatives to Filing for Bankruptcy
Is Bankruptcy the Only Option for Debt Relief?
Threatening calls from creditors make it difficult to think clearly about how to handle the situation. When creditors are threatening to foreclose on your home or business assets, levy your bank accounts, or repossess your car, it can be so overwhelming that seeing a way out isn’t something you can do on your own; you literally feel like you are being battered by a storm. If you are like most people, you likely wish to avoid bankruptcy.
As an established law firm with experienced bankruptcy attorneys, Weintraub & Selth, APC will provide you with the knowledge and skill you need to help you or your business find a bankruptcy alternative.
We offer legal, ethical debt relief services outside of bankruptcy, including:
- Debt negotiation or Debt settlement: This involves negotiating with creditors to lower the overall amount of debt that you owe, which can include negotiating interest rates, late fees, penalties, monthly payments, length of loan, etc.
- Debt consolidation: You may be able to consolidate your multiple debts into one for a more manageable monthly payment plan. This can be especially helpful if you have some debts with high interest rates.
- Refinancing: You can consider refinancing your mortgage or car loan if you can obtain more favorable terms of the loan.
- Loan modifications: A loan modification allows you to restructure your loan into more affordable monthly payments by lowering your interest rate or lengthening your loan term.
- Assignment for benefit of creditors: If a business has a considerable amount of debt, you can work with a company that will help to liquidate your assets to pay off your debts.
- Short sales: For those facing underwater mortgages, you may consider selling your home for less than what it is worth to be free from the debt.
If you are interested in learning more about various bankruptcy alternatives available to you, contact us to discuss your options.
At Weintraub & Selth, APC, we are committed to helping you reach this goal whenever possible and will employ creative strategies to help you achieve debt relief without resorting to bankruptcy. Call us at (310) 220-4147 to learn more.