You just get home from work or maybe you were out looking for work and you check your answering machine. What do you find? Messages left from debt collectors. Even more aggravating, while you’re checking those messages the phone rings again, and wouldn’t you know it, it’s another bill collector.
If you owe, debt is something that doesn’t just go away if you ignore it. Debt can be like a virus that grows and multiplies until you’re in way over your head. It especially gets worse if you’re a victim of the recession we experienced recently. There are a couple of solutions that you can choose to eliminate the problem.
The first of which you should have done before the debt collectors got on your heels. You should have tried to communicate your inability to pay your bills with the ones you are in debt to. Communication can go a long ways, and some of your creditors may have been willing to work with you to solve the problem if you just talk with them. Some may have been willing to forgive part or all of your debt. You never know until you try.
The second option is to file bankruptcy. This should only be done if you can’t get your creditors to listen to reason. There are some that just don’t care if you’re having difficulties and this is where you should contact an attorney who is familiar with the United States Bankruptcy Laws and the Federal Consumer Protection Act. Both laws are in place to protect you from being ruined financially and to give you a fighting chance.