You’ve heard it stated time and time again until it repeatedly drones in your head like a mantra; just make a budget and live within your means. At Behm Law Group we agree that everyone should live within their means and that keeping a budget makes financial sense. It sounds simple enough – just spend less than you make. But for some folks, through no fault of their own, it isn’t just that simple. What do you do when you add up all of your expenses and find your income is simply not enough? How do you decide between paying a bill, buying groceries, or getting a prescription refilled? Who can you turn to when an unexpected medical situation puts your thousands of dollars into debt? These are serious problems, but there are options you can pursue if you find yourself in these situations.
There are organizations that can negotiate with your creditors to reduce your payments and interest. However, you have to be careful that the organization you choose is legitimate. Also, depending on the amount of money you owe, the newly negotiated terms might still be more than you can afford, assuming that your creditors are willing to negotiate. While this option works for some people, it isn’t for everyone.
Another option is to file for bankruptcy. Bankruptcy might be the last thing you want to do but the only viable option available to help you emerge from beneath a mountain of debt. At Behm Law Group we understand that bankruptcy is not something you should enter into lightly. However, bankruptcy law was created for people such as yourself―people in a bad situation who need a fresh start.
No matter how frugally you live, your bills can still overwhelm you. Getting out of your financial distress is not as simple as repeating a mantra. Sometimes you need help from someone who cares. At Behm Law Group, LTD, we limit our practice to bankruptcy law. Our Minnesota bankruptcy attorneys will treat you with the respect you deserve.