One issue that may be causing you to lose sleep at night in Quincy is your debt. It may seem like no matter how many hours or jobs you work, the bills just keep coming. The harassing phone calls and demand notices seem like they will never stop.
You may be tired of the phone calls you receive from your bill collectors and creditors. You may also feel eager to file for bankruptcy just to put an end to the insanity. That does not mean you should ignore them in hopes that they will go away. There are options that can help you get your financial situation under control. Take some time to consider the following things you can do to reduce your debt.
Talk to your creditors
As unenjoyable as the thought of talking to your creditors may seem, it can be beneficial for you to do so. Inform them that you are having a financial hardship and are in need of assistance meeting your financial obligations with them. Ask them to lower the amount of your minimum payments, change your due dates and about any financial assistance programs they may offer to customers who face similar circumstances.
Revamp your budget
Change your budget and spending habits to reflect your current circumstances. Eliminate any wasteful and excess spending you have to increase the amount of funds you have to pay off your debts. Create a new budget that reflects your current circumstances, and use the extra money to pay more than the minimum payments on your debts.
You may feel apprehensive about considering bankruptcy, but it is an option that can make it easier for you to manage your financial struggles. Depending on your income, debts and other factors, you may find that Chapter 7 is a better choice for you than Chapter 13 or vice versa. Before you file for either one, you may want to speak with an attorney to learn your options. One type of bankruptcy erases your debts, and the other kind restructures them so payments are much more manageable for you to handle.