Bankruptcy only has to happen as an absolute last resort when all other attempts at paying debts have failed. There are many alternatives to filing bankruptcy, and a reasonable attorney will tell you what they are. In Oklahoma state, Bankruptcy Attorney Marty Martin is happy to share his knowledge and areas of reference that will provide you all the avenues that you can take before deciding if bankruptcy is your only option. Call (405) 255-2380 anytime for professional guidance to your financial concerns. Mostly you should be aware of how bankruptcy will have an effect on your credit score. Before this happens, take a look at these 4 ways on how to avoid bankruptcy.
1.) Know What Is On Your Credit Report
You have the right to obtain a free copy of your credit report. The Federal Trade Commission provides and protects consumers and is a mecca for help with financial information, including the best companies to retain your credit report from.
Make sure you are absolute about who you owe money to. Most often, false claims can show up on your credit report. Getting those old issues resolved can clear up a block of credit problems that you may not even have. A reasonable bankruptcy attorney can help you clarify these items and clear your mind, too.
2. Sell Your Assets
People tend to own more stuff than they can afford. How much stuff do you have in your garage? Are there items in your house that you have not used in quite a while? Do you have books laying around that you haven’t read in years? What about clothes, jewelry or electronics? All of this extra baggage can save you time and money by getting rid of it. It will also clear your mind and bring you more relaxation to sell it and forget it. Some companies charge a small fee, but free websites are also available.
People have been successfully selling their items on the websites below and then turning it into a living! You might even discover that you have a business sense, after all. Below is a list of sites that can help you get set up to collect some cash.
Most of these websites can be used locally, so there is no need for shipping and handling.
- Facebook Marketplace
- Trove Marketplace
3. Credit Counseling Services
Several organizations provide credit counseling. They will assist you in devising a plan that will help you use your money wisely and assist you in debt reconsolidation plus debt management plans. The Internal Revenue Service provides many programs that will encourage and accommodate answers and solutions to your budgeting issues.
They can also teach you to focus on the following items.
- A single monthly payment to all of your creditors
- Reduce monthly interest rates
- Personalize budgeting needs
4. Trust a Bankruptcy Attorney when all else fail and it’s time to file
Oklahoma Attorney Marty Martin will give you an honest look at your finances and tell you precisely what you will need to do to get back on your feet again. Imagine if all of your financial needs were taken care of including calling creditors and making payment plans. Bankruptcy can be a good thing when you are in the right hands of a professional. Call (405) 255-2380 today for your Oklahoma Bankruptcy Experts at Marty Martin Law.