Our goal at Heimerl & Lammers is to provide effective solutions to our clients dealing with debt issues – especially when those issues crop up during a divorce proceeding. We take time to listen to our clients and understand what they are going through so that we can propose the best solutions for each unique situation. If bankruptcy is the choice, then we guide our clients through every step of the bankruptcy process. However, we also know that you may need to consider other options. If you are dealing with mounting consumer debt (i.e. credit cards, medical bills, utilities, etc.) but wish to avoid bankruptcy, there are a number of alternatives to bankruptcy that we can present to you, including:

Debt Negotiation

Your attorney negotiate with your creditors to can cut down on the amount of debt owed. By paying an upfront lump sum for your debt, you can eliminate a great deal of your debt for just a fraction of the cost. For instance, someone who owes $50,000 in credit card debt can negotiate a lower balance by forgiving some of the balance. It is not out of the question for a creditor to accept 50% or less of the total balance if it means the difference between them getting their money or not getting their money if you file bankruptcy. In many cases, a debt settlement will work in the early stages of overwhelming debt, before many payments have been missed.

Debt Consolidation

Debt consolidation offers a way for you to consolidate all your debts into one payment. This can be a great way to stop the interest and penalty rates from piling up. However, this option only works if you can afford to make the payments. If you are having a hard time making the minimum payments now, debt consolidation may not offer you enough relief.

Debt Counseling

If you seem to be spending more than you make and cannot seem to figure out where the money is going, you may be helped by debt counseling. A debt counselor will go over your current income and expenses and see why you are in the red. If you do not want to go this route, it can also be beneficial to make your own spreadsheet and see exactly where the money is going every month. You may be able to cut down on your daily and weekly expenses and start budgeting better.

We also offer consumer protection services in case you are the victim of debt collection harassment. We can use a number of collections defense methods in order to stop the illegal behavior of creditors that violate the Fair Debt Collection Practices Act.

Our firm is ready to assist you so that you can avoid the severe consequences of unmanageable debt, including wage garnishment or repossession. Once you have eliminated most of your financial liabilities, we can help you in the credit restoration process.