Almost everyone has a large number of financial commitments and it can take a lot of hard work to keep up with them all. For people who lose their jobs, or suffer from any kind of unfortunate event, it can very quickly become impossible to meet all these financial obligations. When this happens it can be very stressful and even distressing. No one enjoys having debt collectors and creditors hassling them day after day, chasing money that is simply not there.
If you find yourself in dire financial straits, don't suffer alone any longer. There are a number of options available to people who are struggling financially. A financial counsellor can work through these options and put you on the path to success once again. Below, just a few of the ways you can pull yourself out of that financial black hole are explained.
Bankruptcy
Bankruptcy is a scary word to many people, but in reality it is nowhere near as bad as you think. In essence, it is a legal process that stops all your unsecured creditors chasing you. Unsecured debt can include things like credit cards and personal loans. Once you declare bankruptcy, you are protected from these companies and any lawsuits, legal proceedings or wage deductions. This gives you the chance to make a fresh start and the ability to try and rebuild your life. You shouldn't see it as a shameful thing – it is really just a helping hand.
Of course, declaring bankruptcy isn't without consequences. You will damage your credit rating and for a defined period of time you will be unable to apply for any new credit, but this is not necessarily a bad thing! Many successful people have been bankrupt in the past and recovered - you can do it too.
Proposals
If bankruptcy is a bit too extreme for your situation, a consumer proposal may be more appropriate. While it can sound complex, a proposal is merely entering a new agreement with your creditors with the help of a legal representative. With this agreement, you can arrange a new and more manageable payment schedule for your outstanding debts. Once you have made such an agreement, any ongoing debt collection or legal action is halted.
If you still have some capacity to pay your debts, this really is a great option. Most creditors are more than happy to come to accept a consumer proposal, as it means they will get some of their money back instead of none at all!
Credit Counselling
Many people who find themselves in financial trouble have known that something was wrong for quite a long time. Unfortunately, the common reaction to financial troubles is to put your head in the sand and try to ignore it for as long as possible. Instead of living in denial, seek financial counselling before it is too late. A qualified financial counsellor can help you to rearrange your finances and keep you out of trouble.
Don't Wait Any Longer
If you need financial help, don't suffer alone any longer. Contact your local law firm specialising in financial counselling today and they will help you to take the best course of action for your specific situation.
If you find yourself in dire financial straits, don't suffer alone any longer. There are a number of options available to people who are struggling financially. A financial counsellor can work through these options and put you on the path to success once again. Below, just a few of the ways you can pull yourself out of that financial black hole are explained.
Bankruptcy
Bankruptcy is a scary word to many people, but in reality it is nowhere near as bad as you think. In essence, it is a legal process that stops all your unsecured creditors chasing you. Unsecured debt can include things like credit cards and personal loans. Once you declare bankruptcy, you are protected from these companies and any lawsuits, legal proceedings or wage deductions. This gives you the chance to make a fresh start and the ability to try and rebuild your life. You shouldn't see it as a shameful thing – it is really just a helping hand.
Of course, declaring bankruptcy isn't without consequences. You will damage your credit rating and for a defined period of time you will be unable to apply for any new credit, but this is not necessarily a bad thing! Many successful people have been bankrupt in the past and recovered - you can do it too.
Proposals
If bankruptcy is a bit too extreme for your situation, a consumer proposal may be more appropriate. While it can sound complex, a proposal is merely entering a new agreement with your creditors with the help of a legal representative. With this agreement, you can arrange a new and more manageable payment schedule for your outstanding debts. Once you have made such an agreement, any ongoing debt collection or legal action is halted.
If you still have some capacity to pay your debts, this really is a great option. Most creditors are more than happy to come to accept a consumer proposal, as it means they will get some of their money back instead of none at all!
Credit Counselling
Many people who find themselves in financial trouble have known that something was wrong for quite a long time. Unfortunately, the common reaction to financial troubles is to put your head in the sand and try to ignore it for as long as possible. Instead of living in denial, seek financial counselling before it is too late. A qualified financial counsellor can help you to rearrange your finances and keep you out of trouble.
Don't Wait Any Longer
If you need financial help, don't suffer alone any longer. Contact your local law firm specialising in financial counselling today and they will help you to take the best course of action for your specific situation.
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