If you are being buried under mounting debts in the Dallas-Fort Worth area – and the debts are mounting faster than you can pay them – discuss your circumstances and alternatives at once with an experienced Dallas bankruptcy attorney. Your situation may not be as dire as you think it is, and an experienced bankruptcy attorney may be able to recommend several alternatives. What you really want to do – whether or not you are in debt trouble at the moment – is to avoid impulsive spending habits and the poor financial choices that can inevitably require bankruptcy. If you want to escape from debt trouble entirely – and that probably includes all of us – here are some modest suggestions:
- If you can’t afford it, don’t buy it.
- Stop using credit cards. Cut them in half right now.
- Pay the debts with the highest interest rates first.
- Increase your income. Ask for a raise or find a part-time job.
- Make and adhere to a budget.
- Examine your credit report regularly. Have any errors on your credit report corrected.
- Pay every bill on time. Many bills can now be paid automatically online.
Reducing your spending is good, but acquiring additional income is better. A great example is Miami Dolphins defensive tackle A. J. Francis. His base salary this year is $510,000. Off-season, Francis drives for Uber part-time. The more income you can create, free up, and begin to save, the less likely it becomes that bankruptcy will be a concern for you. If your credit is already ruined, bankruptcy may be right choice, but often there are more practical options. In the Dallas-Fort Worth area, discuss your financial situation right away with an experienced Dallas bankruptcy attorney who can help you choose the wisest course of action. If you’re being sued by a creditor, if your wages are being garnished, or if foreclosure or repossession is imminent, make the call now.