Foreclosure and Bankruptcy Counseling

The thought of foreclosure or bankruptcy is incredibly frightening to most. It should be. For most of us these signal failure. These thoughts lead to depression and anxiety, a feeling of no way out. However, there is a way out. By learning to manage your money and pay off debt fast, you may be able to avoid foreclosure and bankruptcy altogether.

We are here to help you do just that.

Are you bankrupt?

The odds are that you are not actually bankrupt – yet. In fact, about half of all people who think they are bankrupt are not.

  • Don’t listen to a BK attorney – it is his job to sell you on bankruptcy because that is how he makes his living.
  • Don’t listen to credit counselors – they tend to take the easy way out and, for them, saying that you are bankrupt is both quick and easy.
  • Do the math – if you can live on about half of your current income and devote the rest to paying down your debt, you are not bankrupt.

If you currently earn $70,000 a year and are carrying $65,000 in debt, you may feel as if you are bankrupt. You are not. If you can reduce your living expenses by ½, you will be able to pay off your debt in one 1½ to 2 years. There is no reason to ruin your credit, your self-esteem, and possibly your happiness, at this time.

On the other hand, if you follow the above formula and cannot pay off the debt within three years, bankruptcy may be necessary. We will help you to understand that it is not a failure but forgiveness, a state of grace granted by society which will allow you a second chance. We will then help you make the most of that chance by teaching you the skills required to avoid such drastic action in the future.

Must you foreclose on your home?

Many people believe that once they get behind on their mortgage payments there is no alternative to letting the bank take their home. There are alternatives however, and we can help you discover them. With the proper finance coaching and financial solution services, you can pay off debt fast and avoid foreclosure.

For example, when the housing bubble burst in many markets at once, many people believed they had lost so much value on their homes that their only alternative was to give it up. However, this was only a loss on paper. If you have the same income you did when you purchased the house, and are still able to make the payment, why take the big hit to your credit? The smart move is to wait for the market to recover, when selling your home may not even be necessary.

  • Are you able to make the monthly mortgage payment?
  • Can you refinance?
  • Can you take a “short-sale” and save your credit?
  • Have you only “lost money” on paper?

We will help you answer these questions, and help you make a reasoned, rational decision based upon your goals and your financial situation. If you do need to file for bankruptcy or foreclose on your home, we will help you find competent representation from experts who will protect your interests.

Contact us today to let us show you how to pay off debt fast and avoid foreclosure and/or bankruptcy, if at all possible.