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Northern District of Indiana Lawyers Discuss How Bankruptcy Alternatives Work for Your Financial Situation

Our office counsels you on debt settlement, bill consolidation and defense against foreclosure

Bankruptcy is not your only option when your debt becomes overwhelming. Though bankruptcy does offer a powerful opportunity to erase your debt, the attorneys of Gouveia & Associates work with consumers to identify opportunities for reducing debt that may provide enough flexibility to overcome financial hardship without filing bankruptcy.

Some alternatives to bankruptcy include:

  • Debt settlement
  • Debt and bill consolidation
  • Stopping foreclosure/foreclosure defense

Our knowledge of debtor rights allows us to skillfully negotiate with lenders to secure new, more favorable terms for your money owed.

Debt settlement as an alternative to bankruptcy

If you are overdue on credit card debt, debt for goods or services or an auto loan and can no longer make your monthly payments, our lawyers negotiate with your creditor to determine a fair payment alternative that does not cause extreme financial hardship to you.

We work to:

  • Reduce your interest rate
  • Negotiate a lower monthly payment
  • Settle the entire debt for a much lower lump-sum payment

Debt settlement allows you to restructure your payments so that they are manageable and no longer overwhelming. In many cases, a renegotiated payment plan removes the need to file bankruptcy as a way of overcoming mounting debt.

Debt and bill consolidation as an alternative to bankruptcy

When you cannot make your monthly payments on bills and debts owed, an attorney works with your creditors to determine whether debt and bill consolidation is an option. When debts are consolidated, your interest rates and monthly payments may lower significantly — sometimes enough to make your payments manageable and possibly avoid the need to declare bankruptcy.

We work on your behalf to:

  • Discuss the effects that debt and bill consolidation may have on your financial situation
  • Contact lenders to secure a loan you can use to pay off your debts in one lump sum
  • Negotiate a low monthly payment or lower monthly interest rate with the new lender

If debt consolidation is a helpful option for you, our Merrillville debt relief attorneys help prepare and review all necessary paperwork as you go through the debt consolidation process. We also ensure that you thoroughly understand the terms of your new agreement to avoid future excess debt accumulation.

Foreclosure defense as an alternative to bankruptcy

When lenders threaten you with foreclosure of your home, our attorneys step in as your advocate and negotiate alternative payment options.

To prevent foreclosure, an attorney works to:

  • Stop the foreclosure process
  • Work with your lender to negotiate a payment option
  • Arrange a forbearance, loan modification or other form of repayment

Sometimes, successful foreclosure defense lightens the financial hardship enough that there is no longer a need to file bankruptcy.

Our Merrillville, Indiana attorneys review your financial situation to determine how bankruptcy alternatives affect your debt relief needs

We offer a free, thorough initial review of your financial situation. Email us or call us at 219-576-6192 to schedule your free consultation. Our office is open weekdays from 8 a.m. to 4:30 p.m. We are conveniently located near the intersection of Route 30 and Interstate 65 in Merrillville, Indiana, with free parking available.