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What Are the Steps to Reorganize Debts?

If you are receiving collection calls daily, you may be a good candidate to reorganize your debts. Uncontrollable circumstances often cause considerable financial strain in a person’s life. A job loss or severe illness can cause emotional and financial stress that may seem insurmountable. However, the debt counseling attorneys at Grand Law Firm in Baton Rouge want to offer help to allow our clients to start fresh. Some people will be better suited to file bankruptcy, while others can reorganize debts to allow them to financial relief.

First Steps to Reorganize Debts

  1. The first step you will need to take to reorganize your debts is to gather all financial documents related to your debt and your monthly expenses. Include your most-recent tax return in these documents.
  2. For one month, write down every expense every day. This may seem laborious, but it will help you understand where you can cut down on spending.
  3. Obtain a copy of your credit report. You will want to ensure there are not any errors in the report.
  4. Add the amount of all the bills you want to pay off with a consolidation loan if your credit score is high enough. If you cannot obtain a consolidation loan, you will need legal help to reorganize your debts.
  5. Enlist the help of a debt counseling attorney. Grand Law Firm wants to help our clients get back on a sure foot that will allow a fresh start to their finances. Overwhelming debt causes not only mental stress, but is one of the leading causes of physical illness.

Local Help with Debt Reorganization

Grand Law Firm offers reputable assistance to our clients who face financial hardships. You may be tempted to call a 1-800 debt reorganization company that will offer little support and may charge you unnecessary upfront fees. Work with our local Baton Rouge and New Orleans debt counseling attorneys to take advantage of our expertise in this complex financial area. Call today for a free consultation.

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