Get Out of Debt: A Resolution You Can Keep

Exercising more and eating healthier are without a doubt the most popular new year's resolutions. Also common is a resolution to get out of debt. Like with many resolutions, there are multiple ways to achieve the goal of debt relief. Unfortunately, there also many ways to fall behind, and a resolution to improve one's finances is also one of the most often broken resolutions. A key to accomplishing a goal, such as a new year's resolution, is having having help and support along the way. This is true for improving one's health, and it is true for getting out of debt.

If you are at the point where adjusting some budgeting practices might help you pay down debt, enlisting a friend or family member's assistance to provide a measure of accountability can make a lot of difference. However, if your debt problem is serious and paying the debts off seems like a remote possibility, you may want the preliminary assistance of a bankruptcy attorney. Speaking with an attorney creates no obligation to file, but a free consultation provides for you valuable information on what your options are for debt relief under federal bankruptcy law. Our office offers free consulations to people throughout east-central North Carolina, and you can find qualified attorneys in other areas of the country on the National Association of Consumer Bankruptcy Attorneys website.

Should you decide filing bankruptcy is your best strategy for acheiving the goal of getting out of debt, you gain access to powerful tools provided by federal law. If you meet all eligibility requirements, provide a full disclosure of your financial situation, and either turn over non-exempt property or pay over disposable income, most of your ordinary debts can be permanently wiped out by a bankruptcy discharge. We would be glad to speak with you about the particular benefits and drawbacks associated with bankruptcy given your individual circumstances.