Have you set your New Year’s resolutions yet? If you ended 2015 stressed and struggling with debt, why not resolve to relieve that stress in the coming 365 days and start a clean slate with your credit and financial future.
First Step to Eliminating Debt
The first step in getting your debt slate clean is to evaluate the debts you currently owe. Are you current on all of your debts? If so, they may be manageable by setting a monthly budget and sticking to it. This may mean skipping a meal out or a movie to allot more funds to debt repayment. It may even mean telling your child “no” to the latest and greatest toy or smart phone! Frivolous expenses or making unnecessary purchases are the biggest pitfalls in budgeting. Five dollars here and there can add up to more than you realize. It is, however, not easy to stick to a budget when you have an emergency or unexpected expense. Part of your monthly budget should allow for that “rainy day”. Be sure to set aside an amount each month for a car repair, broken A/C unit, ER visit, etc. If you are able to construct and stick to a reasonable and well planned budget, it will help you get your debts paid in the coming year.
What if you feel too overwhelmed already? What if you are months behind on debt payments? What if you ended 2015 without employment or sufficient income? Or ill? You may feel that your debts are not manageable on your own and that you are constantly trying to climb out of a hole. Many of my clients express this type of feeling. It becomes even more desperate if you are facing a foreclosure on your home or a repossession of your automobile. There are still options if you are experiencing these feelings. One of the worst things you can do is to continue to suffer and burden your family under the stress of debt. Many of my clients have waited to speak to an attorney as a last resort, but it shouldn’t be your last option, make it your first! You have nothing to lose to find out your options. We offer a free confidential financial consultation and, oftentimes, prospective clients just want to know what their options are and the ramifications of delinquent debt.
The attorneys at Bond and Botes would like to help you get a clean slate of your debts this New Year. If you are feeling overwhelmed, we can meet with you in a Free and confidential setting to explore your options. Please don’t wait. Call our office nearest you to schedule an appointment and get this New Year off to a great start.
Amy K Tanner is a shareholder in several of the Bond & Botes Law Offices. She holds a Bachelor of Science from Auburn University at Montgomery, and a Juris Doctorate from Thomas Goode Jones School of Law. She focuses primarily on consumer bankruptcy law in the Huntsville and Decatur offices.Read her full bio here.