If you are in debt and are having a difficult time making ends meet, you are not alone. There are millions of people all over the country that are in the same situation you are in. What you need to do is seek out professional advice from the best chapter 13 attorney St. Louis has available. Most people are under the impression that bankruptcy is the only option, however there are alternatives like a consumer proposal.
A consumer proposal is an agreement between you and your creditors where they give you more time and forgive a portion of the debt outstanding. If your creditors agree to the proposal you will need to stick with your obligations in order to stop your creditors from trying to get repaid in full. An attorney can help you structure the consumer proposal so you are getting the best possible terms while still honoring your obligations.
Developing a Budget and Sticking to it
The bankruptcy attorney will be able to help you determine the best course of action to take with your consumer proposal. Along with the consumer proposal the lawyer will also mentor you on the best way to create a budget that addresses your financial obligations. While adopting a budget may require some growing pains on your end, if you stick with it you will get yourself out of debt and back on solid financial footing. While living on a budget you should not use credit cards at all, even if you think you have your spending under control. Credit cards one of the primary reasons consumers end up in serious financial trouble so it would be prudent to take proactive steps and rein in your spending. While reducing your spending is important, you also need to increase your income by taking on additional jobs to augment your income. By getting advice from the lawyer you will be able to gain better control of your financial situation.