How Do I Live A Peaceful Life During A Financial Crisis?

Chang and Carlin, LLP is a well-known law firm serving the Illinois area, it brings a ray of hope to the lives of people struggling with their debt situations.

Bad finances can cause anybody to break down. But, it is very important during bad financial times to maintain calm and composure, so that proper measures can be taken. However, maintaining calm during financial crises is a tough task especially when the creditors are harassing you 24/7. So, here are some tips to live a peaceful life during financial crises, brought to you by Chang and Carlin, LLP’s Chapter 7 bankruptcy attorneys in Chicago.

Try to talk directly with your creditors

In order to avoid having the debt turned over to a collection agency, you should call your creditor and explain that you are unable to pay the bill (and hiring a collection agency won't help you pay sooner) and tell them when you expect to be able to pay. Hopefully, you will be able to come to a compromise or produce a repayment plan.

FDCPA Act

If you are unable to work a deal with your creditor, and the debt ends up with a harassing collection agency, write a letter requesting that the collector stop contacting you. Under the Fair Debt Collection Practices Act (FDCPA), debt collection agencies and attorneys must stop contacting you after receiving a letter requesting that they quit.

File for bankruptcy

Once you file the initial papers for bankruptcy, you are automatically protected from collection activity. The collector must first obtain permission from the bankruptcy court before it can continue its collection efforts, and the court will not grant permission to those seeking to collect unsecured debts (such as credit card debt). Filing for bankruptcy is a very effective way to stop creditors from harassing you. An expert bankruptcy attorney will help you decide if Chapter 13 or Chapter 7 bankruptcy in Chicago is right for you.

Relax and Talk to an expert

Chang and Carlin, LLP’s Chicago bankruptcy lawyers will guide you through the murky waters of bankruptcy law. Our bankruptcy lawyers understand the financial stress you have been under and can help you put an end to it. In addition, we will help restore your peace of mind amidst the financial crisis you are facing.

For more information, please call us at 1-866-790-8601 or Request a Free No Obligation Bankruptcy Filing Consultation Today..

Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg, Joliet, and Warrenville.