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

Tampa Bankruptcy Law Blog

How to Avoid Being a Victim of Scam Calls for Student Loans

Scam Calls for Student Loans Student loans are one of the biggest burdens faced by college attendees. Even students who...
Read More

Can Medical Bills Be Included in a Bankruptcy? Here’s What You Need to Know

Can medical bills be included in a bankruptcy? Medical problems are stressful enough without facing a significant debt burden after...
Read More

I’m Unemployed. Can I Still File for Bankruptcy?

Unemployed Bankruptcy Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because of...
Read More

How Will Filing for Bankruptcy Affect My Credit?

Will Bankruptcy Affect My Credit? Not paying your bills affects your credit negatively. And yet problems with credit are one...
Read More

Behind or In Default on Your Student Loan? Here’s What You Should Know

Student Loan Default If you’ve fallen behind on student loan payments or your student loans are in default, you aren’t...
Read More

Will Bankrutcy Affect My Job? Learn How Filing Affects You in the Workplace

Will Bankruptcy Affect My Job? Filing for bankruptcy raises many considerations. One of the most important is whether or not...
Read More

Can Bankruptcy Help Me If I’m Behind on Child Support?

Bankruptcy and Child Support Bankruptcy can help you with a lot of things. It can help you stop calls from...
Read More

Can You File for Bankruptcy When You’re Unemployed?

Bankruptcy and Unemployment Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because...
Read More

Bankruptcy and Eviction History

Eviction With the rate of evictions on the rise in recent months and the expectations that eviction numbers will grow,...
Read More

What to Expect Once You’ve Decided to File Bankruptcy from Home

File Bankruptcy from Home There are a few things that happen when you file bankruptcy from home. An automatic stay...
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 comodo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

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