Being in debt is a situation which one should never be in. One faces mounting pressure and stress due to the unpaid bills and skyrocketing interest rates due to maxing out on your credit cards. You worry about providing for your next meal and dread having creditors coming after you for payment. You may find yourself falling into a bottomless pit as more problem start to surface and the family dynamics breaks down. Your finances go out of control and you don’t know how to remedy the situation.
It is certainly not a pretty experience having personally experience how our family relationships were severely strained due to debt when my dad went bankrupt as a kid.
Having an attorney would have been beneficial at that time. Looking back we could have gotten advice on
- How to negotiate with the creditors.
- How to get the debt reduced
- How to consolidate all the debt
If only we knew back then that we could have gotten help from an attorney my dad would not have been made a bankrupt.
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1 comment
Shelomita
January 12, 2012 at 11:39 pm (UTC 8) Link to this comment
Mounting debt is really bad! We have had that experience when we could not afford the usual monthly payment of our credit card couple of years ago. My husband had had quit his job and my only earning could not cover the entire bills. We had to set the monthly installment to minimum so we could cover all.
Yeah I think to have an attorney would have been helpful, but to pay an attorney would also raise the expenses, don’t you think?
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