I wish I had a dollar for every time this phrase was uttered in my office (or at a speaking engagement). I keep talking, speaking, writing, and creating videos because I hear over and over from my clients that they wish they had known that someone could help them a long time ago. After a very busy week, here are some of the things people didn’t know:
- Student loan consolidation can help get a student loan out of default and back on track with income-based repayment (referring to federal student loans).
- You can get a mortgage while in Chapter 13 bankruptcy.
- Filing bankruptcy may make your credit score go up.
- Taxes are often effectively dealt with in bankruptcy.
- You would get sued when you signed up with a debt settlement company.
- Your credit score would drop with just one missed payment.
- Your wages could be garnished for your spouse’s debts from prior to marriage if you don’t do something to protect yourself.
- Chapter 7 is not a good option if you have assets you want to keep, unless you have a plan.
- Adding an authorized user to your credit card may make their score go down.
The reason I list all of these things out and talk about pretty similar things every week is because so many people don’t know that there are often solutions available for their situations. We almost always hear from people in our office that they felt they were the only ones with these types of problems and didn’t know that a majority of Americans have a debt or credit problem of some sort that they really could use help with solving.
Google is an awesome tool, but I find that so many people find bad information or don’t know to keep digging for more details on their individual situation. Very rarely do I recommend the exact same thing for each of our clients. Every case has a different detail that makes certain options better than others.
So, you may not know everything right now, but there are options for you if you ask!
This is just a basic overview and is not legal advice specific to your situation. If you have questions about your rights when it comes to debt and credit, you should speak with an attorney in your area for legal advice. If you live in California or North Dakota and would like to speak with Jen Lee Law regarding your situation, please schedule an appointment.