To you, bankruptcy may seem like a fairly "cut-and-dry" process: you file, disclose your debts, and then have them discharged. You likely thought that at no point would you be told that you had to go through credit counseling. Many in Jackson have come to us here at the Pond Law Firm with the same question that you now have: "Why do I need to do this?" Such confusion makes sense; after all, should it not be assumed that if you are filing for bankruptcy, you have already determined that you are not in a position to settle your debts on your own?
Most bankruptcy filers want to receive immediate financial relief. They want their debts to disappear now, and understandably so. They've probably been suffering under a mountain of money stress for years -- even decades.
Homeowners in Mississippi who are struggling to stay current with their mortgage payments can understandably be concerned about the potential prospect of losing their homes if they cannot find a solution to their financial challenges. One option that has helped some people over the years is a home loan modification. This involves working with the bank lender to negotiate new terms such as a lower monthly payment and maybe even a reduction in fees so that owners are able to make their monthly payments.
As a resident of Michigan or Illinois who finds yourself facing an increasingly overwhelming amount of debt, you may be weighing your options and trying to determine the best and most effective way of rebuilding your financial affairs. At Pond Law Firm, we understand that, for some people, filing for bankruptcy can streamline the process of rebuilding your finances and getting your life back on track, and we have helped many clients facing similar circumstances take steps to start the process.
The healthcare costs in this country are a constant topic of conversation. They seem to be rising at alarming rates with no end in sight. For this reason, many people in Mississippi are stuck with large amounts of medical debt. However, what group seems to be most affected may be surprising to you.