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Legal advice critical for those struggling with debt

If you’re struggling with debt, you’re likely struggling alone. Most people don’t seek legal advice or other support for their debt issues until they find themselves backed into a corner, or the stress becomes overwhelming. But well-timed professional help can save you time, money and stress. Here are three signs that it’s time to consider consulting an attorney to answer your questions about dealing with debt.

Seek legal advice if creditors are threatening legal action

Depending on the nature of the debt, creditors have a variety of avenues for collecting outstanding debts, including pursuing you in court, garnishing wages, and placing liens against your property. It’s tough to know which potential consequences are likely or unlikely, and what the long term implications might be on your credit and finances. Sound legal advice can help you determine the best action to take to protect yourself.

Consider legal advice while you’re creating a repayment plan

If you owe more than one creditor, you’ll have to make choices about who you pay, how much, and when. Understanding your legal rights can help you identify the best places to put your money to eliminate your debt while protecting what assets you have. Should you later choose to file for bankruptcy, having legal advice up front will place you in a better position to keep assets that are important to you.

If you’re losing sleep, legal advice may be your solution

Lastly, if your debt situation is keeping you up at night, you don’t have to go it alone. Simply knowing that you have a professional in your corner who can make sure you get the best possible outcome can set your mind at ease. Get all your questions answered, feel more in control of your financial future, and take the first steps toward setting yourself on the right path. All of these will reduce your stress level, not to mention help to correct your financial situation.

Is it time for you to seek legal advice?

For advice on debt elimination and the role bankruptcy can play in rebuilding your finances, contact us for a free consultation with an Ohio bankruptcy attorney. Click here to schedule your consultation.