Written by Louise Harris
Tampa Bay residents who are heavily in debt have options available to them, according to guests on the Consumer Quarterback Show. They just have to ask the right professionals for advice.
You shouldn’t be afraid of bankruptcy, says Shawn Yesner, an attorney with Yesner Law. A good bankruptcy attorney can protect your assets from creditors turning them into cash and using that toward your debt. Yesner also wants to help you come up with payment plans so you are able to pay the trustee every month. For example, you could be allowed to pay the trustee over a five-year period with affordable monthly payments.
Understanding the differences in bankruptcy law is important for people who are seeking to eliminate their debt. If you can’t afford your monthly bills based on your salary, you might qualify for bankruptcy, Yesner says.
While most credit can be eliminated by bankruptcy, some remain, such as IRS debt. However, the IRS has programs that help you eliminate your debt to the agency. A tax attorney will help you with those issues.
In addition to bankruptcy, people in debt should look at their credit reports, says William Crowley, a credit repair specialist with Bad Credit History Repaired. Crowley is known as the Credit Magician because he can make your credit problems disappear.
Using legalities in several laws, you can get problems on your credit report removed permanently. Credit reporting agencies often operate with deficiencies and do things that are against the law. These can be used to help you repair your problems.
“Most people are unaware of their rights under every law. We can make the problems go away and not be reinserted,” Crowley says.
You don’t want to ignore collection agencies, but you don’t have to give them money either. Crowley offers a four-stage program where he helps you deal with collection agencies and eliminate your debt. He can stop collection agencies’ calls with a letter of validation.
If you ignore the collection agencies, you will have more problems that will be tougher to eliminate, Crowley adds. Take the time to understand your rights and your options. There is a way out from too much debt. Crowley offers free confidential consultation.