Hartford Debt Relief Attorney Explains the Options Available if You Fail to Pay a Debt
As a Hartford Debt Relief Attorney I tell clients that there are four options that you should consider if you fail to pay a debt in Connecticut. The first option to consider is bankruptcy, you should consult an experienced Hartford bankruptcy attorney when exploring this option. The second option is a restructuring plan, where the bank allows you to pay the credit card off at a longer duration with a lower interest rate. The third option is when multiple monthly payments and/or credit card debts are lumped together into a single payment which you make to a third party. In turn, they pass those payments onto your original creditors. As a Hartford Debt Relief Attorney I often tell clients that this is commonly referred to as ‘debt consolidation’. The fourth option is when you are currently unable to afford making payments and you need some time to raise the funds in order to settle the debt at a discounted rate.
If you need help with your available options if you fail to pay a debt, contact our experienced Hartford Debt Relief Attorney.