Alternatives to Bankruptcy
Consult with Our Highly-Knowledgeable Attorneys in Riverside Today
At The Kostopoulos Bankruptcy Law, we understand that deciding whether you should file for bankruptcy can be overwhelming. That is why we are committed to helping clients throughout Riverside and the surrounding areas explore all of the various alternatives to bankruptcy.
If you are struggling with debt and worried about what your future might hold, then please get in touch with our legal team for guidance weighing all of your options. When you choose our firm, our top priority is to provide high-quality service and counsel so you can make an educated decision about your financial future.
Cut Back On Your Overall Expenditures
If you are in a position where you have high credit card balances but can still afford to keep up with your monthly minimums, then consider whether there are other expenses you can eliminate or reduce while paying off your debt. Many people don’t realize that making minor adjustments to their financial habits and lifestyle can give them access to extra funds that can go toward credit card debt.
Examples of cutbacks that can help you better manage your debt include:
- Eating out at restaurants less frequently
- Clipping coupons for groceries and other expenses
- Getting rid of cable TV or streaming services
- Setting a new budget that is tailored to your debts
Try Negotiating With Your Creditors
You should consider direct negotiation with your creditors if you have disposable income or assets that you can sell to pay off your debt. However, negotiating with creditors can be time-consuming because you have to speak to customer service representatives, write detailed letters, and make sure you get everything in writing as you try to convince creditors to settle your debt for less than you owe.
Let Us Determine Which Bankruptcy Alternatives Suit Your Situation
Since no two debtors' situations are the same, what works for one debtor might not work for another. Although there are debt relief alternatives to bankruptcy, sometimes bankruptcy is the best option.
The Kostopoulos Bankruptcy Law in Riverside has a stellar reputation for taking a comprehensive approach and answering questions debtors have about their particular situations and whether bankruptcy is actually the right choice for them. When you choose our firm to represent you, we will work closely with you, discuss your options, and fully address your specific needs.