Debt Relief FAQ's
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Many Delaware residents just like you contact Rahaim & Saints when they're looking for a debt relief attorney in Wilmington, DE. In many cases, people are unsure whether to file for bankruptcy, search for alternatives to bankruptcy, or seek other solutions. Our attorneys can help you understand the different debt relief strategies available.
There are a wide range of reasons why a resident of Delaware may be under major financial pressure. Divorce, huge medical bills or losing a job are just a few examples of events that can cause unmanageable amounts of debt to begin piling up. Although it may seem like there's no way out of this type of situation, consulting with a debt relief attorney in Newark, DE, can make a significant difference. Attorneys are aware of debt laws and may be able to help you find solutions you hadn't considered before.
What is debt relief?
Debt relief refers to a range of solutions and legal remedies for overwhelming consumer debt. Rather than being one simple solution, it offers multiple possible avenues for you to explore so you can find the right fit for your specific situation.
Is bankruptcy my only option?
Many people assume if they can't pay their bills, bankruptcy filing is their best or only option. This is not always the case. You may also have other debt relief options, such as:
- Loan modifications
- Addressing illegal collection practices
- Making payment arrangements with creditors
- Foreclosure protection
- Discharge and credit card debt
- Preventing wage garnishment
- Debt consolidation
- Credit solutions and credit rebuilding
- Discharging some debts
What happens when I consult a debt relief attorney?
When you contact the team at Rahaim & Saints, an attorney will review your situation and your finances with an objective eye. Secondly, our attorneys will listen to you in a confidential consultation and will help you understand what your goals are in dealing with your debt. After reviewing all the pertinent information, an attorney will discuss with you the options for relieving debt and making your loan payments affordable again. The options you select from will depend on your situation and may include bankruptcy, loan modification or other solutions.
Contact Tiffany Poole at Rahaim & Saints today for a free consultation.
Does debt relief really work?
When you're struggling with debt, you may feel like no one can understand what you're going through. But in reality, countless other Delaware residents have faced the same challenges at one time. Because so many people do end up with overwhelming debt, the strategies and solutions for dealing with the challenges created by large debt really do work.
Why hire a debt relief attorney?
There is no legal obligation to hire an attorney. However, the debt relief process is complex, and you benefit from working through the process with someone who understands the law. In many cases, for example, creditors may be less willing to make payment arrangements or modify loans if you are the one who's trying to make the arrangements.
When creditors are talking to an attorney, on the other hand, they know you're serious about taking care of your debt. Attorneys can also refer to specific laws and precedents to encourage creditors to comply with current laws. If creditors or debt collectors are using illegal means, attorneys can use legal proceedings to put a stop to these behaviors.
An attorney can also help you explore all your options. Many people come to Rahaim & Saints, for example, not even realizing there are a range of options besides bankruptcy. If you have a large medical debt, for instance, it is possible to seek to have that medical bill reduced, discharged or modified. In fact, our attorneys can explore whether that bill should be covered under your health policy or whether it can't be covered by some other means.
We can explore all the options with you because we are aware of the solutions available. Our focus on bankruptcy and financial law ensures we know the laws potentially affecting your situation.
An attorney can also help you with all the processes. If you do decide to file for bankruptcy or decide to modify a loan, for example, you will need to fill out paperwork, reach an agreement, and understand all the terms of the agreement. An attorney can help you with this process and can even take care of much of the paperwork for you, freeing up your time so you can focus on recovering financially.
Regardless of the severity of your current financial situation, you don't have to live with a cloud of debt over you forever. Contact Rahaim & Saints today to schedule an initial debt relief consultation.