We know that debt management can certainly cause stress for members of the Lafayette, IN community, but there are several ways to make it easier. At Perez & Perez Bankruptcy, we are dedicated to helping people with debt management problems in the Lafayette, IN area. We even offer bankruptcy alternatives to help you manage your debt, including paying debts using retirement savings and debt settlement. We can help, but there are also things you can do to help you in your own debt management process.
1. Pay Some Money Upfront
Some creditors may not even agree to talk with you until some money has been paid. While we can help to advise you during this process of communicating with lenders, it is also helpful to pay money up front before it comes to the point. How much you must pay up front is often negotiable, and we can help with that too.
2. Negotiate After You Budget
Like we said before, how much you have to pay up front and in payments is often negotiable. Be sure to negotiate your upfront payment or your interest rate if things are difficult. Our team at Perez & Perez Bankruptcy can even contact your creditors to negotiate a reduced balance with our debt settlement services.
Most importantly, understand your budget before you begin negotiating, and be firm on how much you are able and willing to pay to help the negotiation go further. Knowing your own ability to pay can help you plan ahead.
3. Be Honest
Knowing your budget helps you to be honest with creditors when you talk to them or when we handle it. Because the negotiation process can be difficult, we recommend letting the team at Perez & Perez Bankruptcy help with your debt management in the Lafayette, IN area. However, if you are doing it yourself, do not settle for a reduction that you still cannot afford. Remind your creditors that if you cannot pay, bankruptcy will be your remaining option, leaving them with no payment at all.
4. Handle High-Priority Payments First
Prioritizing your payments can go a long way when it comes to the debt management process. Be sure to prioritize necessary utility-related payments and debts than cannot be discharged in bankruptcy first. These include debts such as auto payments and student loans. Credit card payments are second to these debts, as they can be ultimately discharged in bankruptcy if necessary and are unrelated to often-required utilities.
5. Let Perez & Perez Bankruptcy Help
Our team at Perez & Perez Bankruptcy can help you with your debt management needs in Lafayette, IN. We offer help in paying debts with retirement savings, debt consolidation or debt settlement. We can also advise chapter 7 and chapter 13 bankruptcy if that becomes the best option for your debt management.
If you need assistance with your debt management or bankruptcy services in Lafayette, IN, let Perez & Perez Bankruptcy help you by advising, negotiating with lenders or helping with bankruptcy.