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Debt Relief Archives

Dealing with a loss or reduction of income

For many years, a stigma may have surrounded personal bankruptcy as being  a tool used only by the fiscally irresponsible. Many of those that come to see us here at The Law Office of Paul Petrillo, however, may be average Salem residents looking for debt relief options following a loss of income. Any number of reasons can contribute to a reduction of income in your home, be it through the loss of a job or an unplanned reduction of your work hours. If and when this happens to you, know that you are not alone. Information shared by the Pew Research Center shows that from the year 2001 to 2014, the median household income of middle-class American decreased by 4 percent.

Understanding credit counseling

Oftentimes, Salem residents may believe their debt problems to be so extreme that they have no choice but to file for bankruptcy. In some cases, that may indeed end up being their best option. However, there are other resources available to help deal with debt prior to making the decision to seek bankruptcy protection. The chief among these is credit counseling.

Explaining subsequent bankruptcy filing limits

Many who come to us here at The Law Office of Paul Petrillo looking to file for bankruptcy protection hope that doing so will allow them to get back onto firm financial ground. You may have had this same intention, yet then discovered that the potential for debt struggles simply does not go away. Now you may find yourself in the position of needing to consider bankruptcy again. If so, then you may be pondering two questions: can you file for bankruptcy again, and if so, how long do you have to wait?

Detailing debt relief options

Many of those who are struggling with debt in Salem typically face two major challenges: they find their own knowledge and experience insufficient to overcome the financial hurdles that they face, or they simply lack the resources to repay their creditors. In both cases, outside assistance may be needed to grant those in such situations a realistic chance to once reclaim control of their finances. For many, that assistance may be bankruptcy. Yet many of the stigmas associated with bankruptcy protection may drive people to see other forms of debt relief.

Finding tax debt relief

With the commencement of a new year comes the time for Salem residents to start thinking about taxes. Those who are deeply in debt may count tax debts and penalties among their liabilities. The perception of the Internal Revenue Service as being unmerciful in cases of unpaid taxes notwithstanding, there may be methods to achieve tax debt relief that will not hinder one’s ability to pay his or her other debts.

Seeking relief from spousal support debt

For many of those in Salem who come to us here at The Law Office of Paul Petrillo seeking debt relief solutions, spousal support ranks among their largest debts. If you find yourself significantly far behind in your alimony payments and lack the means to make up your debt, you may also be desperately seeking a resolution that does not involve legal trouble. Bankruptcy could be one alternative that you are considering.

Can you qualify to buy a home after bankruptcy?

For many in Salem, homeownership is a dream that they are still chasing. If you count yourself among this group, yet also face overwhelming debt that’s close to driving you to bankruptcy, then you may wonder if your decision to file would permanently bar you from ever qualifying for a mortgage. If so, then that would also preclude the 10,789 other people in New Hampshire who sought bankruptcy protection last year from enjoying the same benefit.

Debt relief after death

Those overwhelmed by bills in Salem long for the day when debt relief arrives. Many believe that day will only come when they die. According to the results of a national survey reported by CreditCards.com, 18 percent of Americans believe that they will die while still in debt. While they may view that as the end of their own financial struggles, the expenses linked to their estate still remain. It then falls to their estate executors to worry about settling their outstanding debts.

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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