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Can you dig yourself out of debt without bankruptcy?

As a Washington D.C. resident who's trying to avoid filing for bankruptcy, you may be looking into alternative debt relief. At Ammerman & Goldberg, we aim to provide you with information about all of your possible financial options before you make your final decision.

Restructuring mortgage payments is one of the best ways to alleviate your debt. Talk to your lender directly to discuss potential debt reorganization options. In some cases, you may find yourself being able to adjust your mortgage rate to a set of payments that falls more realistically within your price range. Reduced monthly payments or a longer period of time to stretch your payments across can both be lifesavers.

Another way to avoid bankruptcy is to work directly with your bank. In many cases, if your debt has been caused by unpredictable life situations, they will allow you to have a short grace period. In this period, your fees may be waived and your monthly payments will likely be lowered. While this is a short-term fix to a big problem, it might be exactly what you need to dig yourself out of the hole. You can also help yourself out by prioritizing your mortgage payments above any other debts.

If you would like to read more about the various methods of debt relief that you can look into, please follow the link to our web page. While there isn't any shame in needing to file for bankruptcy, one of the alternative methods may suit your situation better, saving you hassle and confusion that you don't need to deal with.

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1115 Massachusetts Ave NW,
Washington, DC 20005
Phone: 202-559-1428

10512 Pohick Court,
Fairfax Station, VA 22039
Phone: 703-550-7030

6926 Seven Locks Road,
Cabin John, MD 20818
Phone: 301-890-4500

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Fax: 202-638-5858

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