Financial Solutions for Consumers Struggling with Debt
After unemployment in summer 2011, unemployment in Orange County has been on a gradual decline and is currently hovering around 4%. At its height, joblessness in your county exceeded 7% and this impacted far too many families. If you were one of those that lost your job or had hours cut back during the recent recession, you may have fallen behind on your bills. Unemployment benefits took the edge off for many, but for long-term jobless, North Carolina's rejection of federal funds for extended benefits hit hard. As a result, we've seen a rise in clients looking for debt relief solutions.
Are you maxed out and behind on your credit cards?
If you've experienced a dip in income, an increase in expenses or any other financial hiccup, you may have had to use your credit cards to cover necessities. This is very common. If the only way to keep the lights on, gas and heat on and food on the table is to charge living expenses to your plastic, that makes sense. Most people that do this plan to tap their credit lines only in the short-run and hope to pay these down when things turn around. The problem is, once you max out your cards, it can be hard to catch back up. And if you ever pay late and get hit with additional fees, interest and over-limit costs, it can be a debt spiral that's hard to escape.
Have you been threatened with foreclosure on your home?
If your income took a hit, you lost your job or had an unexpected increase in expenses, you may have skipped some mortgage payments planning to catch up when you could. But mortgage payments can be very difficult to catch up. After you miss even one house note, you may receive a foreclosure threat, but most lenders will let you go many more months (or even a year) before they actually follow through and foreclose on your home. Filing either chapter 7 or chapter 13 will put a stop to a foreclosure. Chapter 7 can buy you some time to find another place to live. And chapter 13 can allow you to catch up on your payments and avoid foreclosure.
Are debt collectors making your life miserable?
Money problems are one of the greatest sources of stress in life. And if you're behind on your bills, you're no doubt getting threatening letters and phone calls. Every bill you're behind on will result in collections activity. This can result in calls at home, at work, on your cell – all day, every day. Most debt collectors resort to threats and don't care if you have no money to pay them.
They are unrelenting and won't stop until the bill is paid, the statute of limitations on collections expires or you file bankruptcy. Filing either chapter 7 or chapter 13 bankruptcy will put an immediate end to all collections activity. The instant your North Carolina attorney files your case, which can be done electronically from their office, collectors cannot legally contact you. This can result in immediate and permanent peace of mind.
Let the expert staff at the law offices of John T Orcutt help you today
No matter how much you owe, if your behind on your car or house note, maxed out on credit cards and owe far more than you can afford to pay, we can help you out of your financial crisis is. When you come in for your free consultation, we'll look at your unique circumstances, review all of your bills, your income and assets and let you know how bankruptcy can help you obtain permanent debt relief. We'll explain the difference between chapter 7 and chapter 13 and advise you on how each would impact your life. Then we'll make a recommendation on which chapter is best for your unique circumstances.
Call or email the law offices of John T Orcutt today for a free consultation at our Durham office or one of our other convenient locations. Let us help you get out of debt today and on the road to a financial fresh start.