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Bankruptcy Content

Alternatives to Bankruptcy in St. Petersburg

Explore all Your Options

Searching for a lawyer for an alternative to bankruptcy in St. Petersburg? If you are a resident in the St. Petersburg area interested in finding alternatives to declaring bankruptcy, please contact Dion R. Hancock, P.A.. Each person's financial scene is unique with differing circumstances and differing financial goals. Filing bankruptcy may not fit your needs or desires. If so, there are alternatives that may be worked out to avoid bankruptcy. When considering these alternatives, it is important that you thoroughly investigate the companies and services involved to ensure that you do not put yourself in a worse financial dilemma than you are already facing. If after putting one of these alternatives in place, you later decide that filing bankruptcy is your best option, you don't want to jeopardize that possibility.

Alternative options to declaring bankruptcy are out-of-court settlements with creditors, debt consolidation loans, and debt counseling services. In an out-of-court settlement with creditors, you may be able to settle your unsecured debt at a reduced amount. In order to do this, you will usually have to work with a company that will negotiate on your behalf with your creditors. It is important to work with a professional company as this process must be done properly. There may be a negative effect on your credit rating but if you have already fallen behind on payments or missed payments, your credit rating will have already suffered.

Best Bankruptcy Attorney in St. Petersburg

A debt counseling service may be able to help you by consolidating your monthly payments and getting a reduction on the interest or the payment of your unsecured debt. A debt consolidation loan may be done by borrowing on the equity in your home to pay off or pay down credit card debt. This option, of course, requires that you have equity and that you can afford to make payments on a home equity line of credit. Failing to make payments on the equity line may put your home in jeopardy so this option needs to be weighed very carefully.

Looking for an attorney for an alternative to bankruptcy in St. Petersburg? For further assistance or to explore these options, please consult with a St. Petersburg bankruptcy attorney at our firm. We offer a free initial consultation to prospective clients in the Tampa Bay area.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.