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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2518
Experience:  Better Business Bur 15yrs bankruptcy experience. Chicago Bar
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Finances are stretched nearly beyond repair. Credit cards all

Resolved Question:

Finances are stretched nearly beyond repair. Credit cards all full or over, except I have one credit card not used with 0% transfers. My income does not match the bills I currently have. Medical... Utilities... Etc...

I don't want to file bankruptcy if possible. So I'm looking at debt consolidation companies, etc.

What is the best course of action to bring the bill into a manageable state?
Submitted: 11 months ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 11 months ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

There are many not-for-profit agencies that can help you. Avoid the for-profit ones though. Check with the BBB.

Terry L. :

They can help you negotiate with the creditors, offering a reasonable payment plan based on your current budget.

Terry L. :

They can also negotiate settlements too, if you want to go that route.

Terry L. :

You may want to at least talk to a local bankruptcy attorney, many of my clients don't realize the minimal impact a case would have, and the many positives and advantages to filing.

Terry L. :

Most people are back on track just a few months after the case.

Terry L. :

Either way, talk to professionals to review your situation, most will offer free consultations.

Terry L. :

Let me know what questions you have

Terry L. :

Do you have any questions?

Terry L. :

You may have stepped away. Let me know what questions you have,and I'll answer them once notified. Thanks

Terry L. :

Terry

Customer:

I can't chat. I really can only go back and forth on the regular question answer method. However, I'm trying to get financial guidance on my situation described in my original question.

Terry L. :

Ok, I will change it to Q&A.

Terry L. :

What questions do you have?

Expert:  Terry L. replied 11 months ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.
Customer: replied 11 months ago.

I realize a free consult with a legit bankruptcy lawyer would help. However, what I was hoping to understand is these debt consolidation advertisements I hear on the radio. I don't want to get hooked into a scam or make a decision that will adversely effect future finances. And bankruptcy I believe should be avoided if at all possible. Recovering credit worthiness that's not really that bad at the moment, is probably not worth the time. It's just a matter of squeezing these bills into something actually doable. Can you recommend any non-profit companies or for profit companies that are reputable, or is there any other advice you can provide in this vein?

Expert:  Terry L. replied 11 months ago.
Unfortunately this website prohibits me from recommending any one company. I would make sure it is a not-for-profit agency. Check with the better business bureau for referrals, also you can google "not-for-profit debt consolidation or settlement company' and you'll find some in your area.

As you stated, there are a lot of scams out there, so be cautious and read everything they present to you so you know what you are getting into.

Best of luck.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2518
Experience: Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Terry L. and 2 other Bankruptcy Law Specialists are ready to help you
Expert:  Terry L. replied 11 months ago.
did you have any followup questions? Let me know. Otherwise, click accept to rate my answer and close the question. thanks
Terry L
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2518
Experience: Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Terry L. and 2 other Bankruptcy Law Specialists are ready to help you
Expert:  Terry L. replied 11 months ago.
did you have any followup questions? Let me know. Otherwise, click accept to rate my answer and close the question. thanks
Terry L

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