The Do’s and Don’ts in Bankruptcy
Stay Informed- Knowledge is Power
When you are constantly worrying about your growing debt and don’t see any way to solve it, it can be easy to make mistakes which end up making your situation worse. The best thing you can do is speak to a bankruptcy attorney at our Nashville office who can review your personal situation and help you understand your options and make informed decisions.
There are, however, some basic guidelines to keep in mind that can help you along the way. First, don’t delay in taking action. Are you are living paycheck to paycheck, using credit cards out of necessity, are unable to save or afford more than your minimum payment or are behind on your bills? If so, it is vital you take action now. The longer you wait, the worse your situation can become. At best, you may waste many years struggling through a stressful existence without making any notable progress on your situation. You may be hit with additional consequences such as wage garnishment, repossession and lawsuits.
It is also important to remember not to trust debt collectors. Even though laws exist to protect your rights when it comes to debt collection practices, there are, unfortunately, still instances where these are violated. If a debt collector says something which you find alarming, there is a good chance it is not true. Your best protection is to know your rights. Lastly, get agreements in writing. Any promises made by your creditors or debt collection companies must be in writing to be legally enforceable. Without this you have no protection.
Practicing Safe Spending Habits
It can be easy to delay on taking action if you are unsure of what you should do. You may be wondering what to do first and who to turn to in this difficult time. This is where Cain & Associates, PLLC, comes in. Attorney Cain has been practicing law since 2000 and uses his thorough understanding of available debt management solutions to determine which would be best for your situation and goals. For guidance on addressing your debt problems, contact a Attorney Cain & his associates.