ALTERNATIVES TO BANKRUPTCY

Is Bankruptcy Your Only Option?

If you are like many people, you may have found yourself so far behind in loans and credit card debts that it seems as if filing bankruptcy is your only option. Sometimes it is, but often creditors will welcome an opportunity to work with you to find affordable, common-sense ways to help you repay the money you owe. Our Covington, Kentucky, lawyer will work with you to see if we can help you keep your house and car.

To find out which bankruptcy alternatives may be right for you, contact a Northern Kentucky bankruptcy attorney or call us at 859-474-1130 or fill out our contact form for a free initial consultation. We promise to give you an honest evaluation of your debt problem and a clear explanation of bankruptcy and other debt relief options. There is a difference in bankruptcy lawyers. Let us put our experience to work for you.

Helping You Find the Right Alternative

If you think that bankruptcy is your only option, let us explain our services to help you find the most feasible and right alternative, including:

  • Working with your creditors to lower interest rates and remove fees
  • Developing a monthly repayment plan through a debt relief agency, or seeking a home loan modification
  • An honest evaluation of whether your mortgage is REALLY the right thing for your family
  • Avoiding garnishments and judgments by working with the IRS and state tax authorities

What You Need to Know About Debt Relief Companies

Debt relief companies have begun springing up all over the country. Before you talk to one of them, here are some basic facts you should know.

You will usually sign an agreement to send money to a special account. The amount is based on your total credit card debt and may be the same or more than your current monthly credit card bills. Your upfront fee is based on the amount of your debt and is taken out of the special account.
Some companies will not begin negotiating for a reduced payoff to your creditors until your special account has reached a certain amount. Debt relief companies generally cannot protect you from collections while you are paying into your account. Most companies cannot guarantee that they will lower the amount you owe. If you stop paying into your account before your set amount is reached, you may lose the amount of fees you owe the credit relief agency.
Many states have declared these debt relief companies to be illegal. Before you talk to anyone about your debt relief options, talk to us. Rauf & Smith, has a long history of helping people deal with their debt problems by finding the right alternative to Chapter 7 or Chapter 13 bankruptcy. Attorney Thomas Rauf can help you understand your options and get the fresh start you need, without having bankruptcy appear on your credit report.
Call a Northern Kentucky Debt Relief Attorney for a Free Initial Consultation
To learn about your debt relief alternatives to bankruptcy, contact a Northern Kentucky debt relief attorney or call us at 859-474-1130 for a free initial consultation. We work alongside our clients and provide a personal level of service that you will not find at most law firms.