When someone is in over their head with debt, whatever the reason may be for this particular situation, one of the main things people look for is debt relief in Marietta, GA. The question that many in this situation have is what exactly constitutes debt relief.
Is Bankruptcy the Right Move
The simple fact is debt relief can take many different forms. For some people, the easiest and most comprehensive way to get significant debt relief is through bankruptcy. However, for some people, filing for bankruptcy may seem a bit too extreme, and in some cases it is. For that reason, other methods of debt relief may have to be explored.
Negotiating with Creditors
In some situations, the solution is as easy as speaking with the individual creditors a person may be indebted to in order to negotiate new terms. In a way, this is a method of restructuring accounts. This can be done by the individual that is indebted to the creditors, or a dedicated debt relief attorney can represent an individual or couple in order to renegotiate the terms of lending agreements.
The Debt Consolidation Option
Another option, which may not be available to everyone, but can significantly help, is the acquisition of a debt consolidation loan. It may seem counter intuitive to call going into more debt a viable form of debt relief in Marietta, GA. However, debt consolidation loans can do just that.
They can help reduce multiple monthly payments into one payment. Also, a person can actually save a great deal of money on interest rates paid through a debt consolidation loan rather than the average interest rates of their existing debt.
Debt relief isn’t just about filing for bankruptcy. However, different situations call for different methods, which is why an individual should take the time and speak with a debt relief professional.
Many of these professionals operate as a bankruptcy attorney. They also offer free consultations so an individual can speak with them, discuss their situation and, often times, the attorney can recommend the right debt relief program for their situation. If a person wants to learn more about these or other debt relief options, they may want to check out a website of Chris Carouthers and Associates.