CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

What are Your Options When Faced with Financial Hardship?

Facing financial hardship is a scary experience, but it is one that is quite common. As the economy ebbs and flows, and people struggle to find work and make ends meet, they find themselves deeper and deeper in a financial hole.

Ignoring the problem is the worst thing you can do. Instead, take action to improve your situation. It will take some time, but eventually you can be financially stable and your money woes will be a thing of the past.

What can you do when faced with financial hardship?

Request a Loan

Borrowing money is not always the best option and it can lead to more financial trouble, but it can also help you in the short-term. If you are trying to escape a particularly difficult situation, a loan can help.

Be smart when searching for the right loan for your situation. If you borrow from a loved one, create a written document governing the situation and understand that the exchange of money could ultimately affect your relationship. You must be willing to take that risk before borrowing.

If you qualify, you can borrow money from a bank. Just be sure to examine the terms carefully and have a plan for repaying the loan before you borrow. You also have the option of borrowing from lending institutions that are not banks, but you should tread carefully. These “cash now” lenders charge extremely high interest rates and can cause your financial situation to spin out of control.

Speak with Lenders about Altering Current Arrangements

Whether you are able to borrow money or not, you should contact your current lenders to discuss an alternative arrangement for paying back what you already owe. Lenders are sometimes wiling to alter interest rate adjustments that create lower monthly payments. They might also provide grace periods or extensions on debt that can buy you some extra time.

Work with a Debt Relief Firm

Debt relief firms work with consumers to bundle debt and create lower monthly payments. This can be an effective way to free up funds on a monthly basis, but in the long run it might cost you more. An additional benefit of working with a debt relief agency is it could help you improve your credit. Again, be aware of all the details before agreeing to any arrangement because some of these agencies have shady reputations.

Schedule a Consultation with a Bankruptcy Attorney

Finally, when financial worries are too much and you need to put an end to the stress and harassment, you can speak to a bankruptcy attorney. Bankruptcy is the right option for many people, but they are unaware of the benefits until they discuss their situation with an attorney.

Are financial worries keeping you awake at night? Are you unsure what to do about the bills that are piling up? Now is the time to take action. Contact the Law Offices of Robert M. Gellar for more information about finding financial relief.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How to File for Bankruptcy without Losing Your Assets: How an Attorney Helps You Use Florida Bankruptcy Exemptions

If you're considering filing for bankruptcy, it's important to know that you can still keep your most important assets. The...
Read More

6 Things You Can Do to Make Filing for Bankruptcy Easier

Bankruptcy is often a confusing and scary process. It can be very overwhelming to face the prospect of declaring bankruptcy,...
Read More

4 Great Bankruptcy Resources for People Struggling Financially

Filing for bankruptcy can be a daunting process, but there are many bankruptcy resources available to help you through it....
Read More

6 More Things You Should Know About Bankruptcy

When you’re considering bankruptcy, it can help to know what to expect. Understanding the bankruptcy tricks and tips available to...
Read More

How to Take Control of Your Financial Situation

Do you want to learn how to take control of your financial situation? Does it feel as if your spending...
Read More

What Can I Do If I’m Being Harassed by Creditors?

Struggling with financial problems is bad enough. It gets a lot worse if you’re being harassed by creditors. What is...
Read More

Can I File for Bankruptcy without an Attorney?

The short answer to this question is yes, you can file for bankruptcy without the help of an attorney. However,...
Read More

Can Bankruptcy Improve the Health of Your Marriage?

Marriage and money problems go hand in hand. Financial problems cause everything from minor squabbles to full-blown marriage-ending fights within...
Read More

5 Common Budgeting Mistakes Newlyweds Make and How to Avoid Them

Budgeting mistakes are common, especially when you’re young. Not all newlyweds are young adults, but many first-time marriages do involve...
Read More

When Should Married Couples File for Bankruptcy Together?

There's no easy answer to the question of timing when it comes to bankruptcy. In some cases, it may make...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions