Debt Restructuring Lawyer Memphis, TN Debt Restructuring Lawyer Memphis, TN

A debt restructuring lawyer Memphis, TN residents, recommend can assist those managing significant debts to explore their options. Debts can be crushing and, if not careful, could result in a completely unmanageable situation. Being unable to pay your bills and keep up with your standard of living can be incredibly challenging, resulting in feelings of stress, shame, and anxiety. There are several tips to consider when managing your debts. However, in some cases, things may be much worse than you had thought, and all signs may point to bankruptcy as the best option for you and your family. As someone looking to start anew, Darrell Castle and Associates, PLLC can provide you with guidance, assist in exploring options, and help you take action. 

Tips for Managing Your Debts

One of the most critical components to keeping yourself from amassing large amounts of debts is to never live beyond your means. Making purchases that are greater than you can afford can quickly spin out of control and become unmanageable. The following are tips for managing your debts should you find yourself in over your head:

  1. Always pay your bills on time
  2. If you have credit card debt, make more than the minimum payment each month
  3. Consider negotiating lower rates with your creditors
  4. Cut back on extra expenses that aren’t a necessity
  5. Focus on paying one thing off at a time
  6. Consider debt consolidation
  7. Don’t ignore the problem

While diligently tackling debt can undoubtedly work for some, it’s essential to identify when strategies aren’t working. If you are finding it difficult to realistically manage your debts, you may want to identify whether there is another solution for you with our bankruptcy law firm in Memphis, TN.

Signs That Bankruptcy May Be the Best Option

You may determine that your only solution is to file Chapter 7 bankruptcy. If you are experiencing the following challenges with your debts, you may want to speak with a lawyer to get started:

  • You are only able to afford the minimum payment
  • You are behind on your bills
  • You have been unable to pay your mortgage or rent and are facing foreclosure or eviction
  • You see no solution
  • You are unable to qualify for debt consolidation programs or lower interest rates due to your debt to income ratio
  • Using credit cards to pay for everyday expenses
  • Your income does not cover your debts

Don’t do yourself the disservice of ignoring the problem in hopes that it will go away. Filing for bankruptcy can help you move forward and attain the fresh start you need. 

You Need Our Help!

Facing momentous debts that you cannot recover from can feel as though there is no end in sight to your financial problems. However, we want you to know that there are viable options that may help relieve your debts and the stress you may be living with daily. Darrell Castle and Associates, PLLC, can provide you with options that may allow you the opportunity at a fresh start. To get started, and to learn more, contact our Memphis, Tennessee debt restructuring lawyer.