Experienced Bankruptcy Attorneys in New Orleans and Baton Rouge
When you are struggling to keep up with payments on your house or credit cards, the debt management ads on TV seem to offer attractive solutions.
The sad truth is that these debt management companies spend a lot of time and money promoting their services on TV and radio. They promise easy debt consolidation and other "alternatives to bankruptcy." What they don't mention is that these companies operate on a for-profit basis.
At Grand Law Firm, many of our clients come to us for advice about bankruptcy after they paid a lot of money to debt management companies and got NO results. Many debt negotiators work for third-party companies and are not licensed or bonded. If something goes wrong, there is no policing agent to address the wrongs — and your money is gone.
Our attorneys are licensed and bonded, and always put your best interests first. Our goal is to educate you on your options — including both bankruptcy and debt counseling — and help you choose the best way to manage your debt.
Contact Grand Law Firm to discuss the alternatives to bankruptcy before you call a debt management company. Call toll free 1-888-860-3543 to schedule a free consultation in our Baton Rouge or New Orleans law offices with a qualified bankruptcy lawyer.
Debt Consolidation Can Hurt You
Many debt consolidators recommend rolling your credit card debt into a home equity loan. This can be dangerous because it puts your home at risk of foreclosure. Credit card debt is unsecured — meaning that it doesn't require collateral. This is an advantage to you and very frustrating to credit card companies when you can't make your payments. They can't repossess products bought with your credit card.
If you pay off your credit card debt with mortgage debt, it is a dream come true for credit card companies, but is almost never good for you. A home equity loan is secured — the collateral is your house. If you fail to make the payments, your mortgage lender can foreclose on your home.
Are There Any Good Alternatives to Bankruptcy?
As experienced bankruptcy lawyers, we know that there are no shortcuts to debt management. We understand that many clients fear the stigma and shame of bankruptcy. We know that most people would far rather pay off their debts than file for bankruptcy. The fact is, however, Chapter 7 and Chapter 13 exist because circumstances sometimes make it virtually impossible to do so.
The purpose of bankruptcy is to help you and your family get back on your feet. Depending on your financial situation, you can begin rebuilding your credit almost immediately through a court-approved payment plan.
Contact us now for a free initial consultation with a lawyer about bankruptcy and alternatives. We have 25 years of combined experience helping thousands of clients in similar circumstances. Call us toll free: 1-888-860-3543.
Before your initial consultation, we recommend printing out our bankruptcy worksheets package and filling out what you can.