Debt Management

by Rena McDonald

 How do I Reduce my Debt?


Here at McDonald Law Group we understand that debt can be a complex, overwhelming, vicious cycle that is hard to navigate through. We are here to help you get through this tough time and become more organized with managing your debt. There are many forms of debt that one can have difficulties with during the course of their lifetime, including loans, credit cards, taxes, mortgages, etc. Our firm is prepared to help guide you on how to better manage and reduce your current outstanding debt.


Tax Debt

Owing money for back taxes can be frightening. The IRS or state tax department will seize and/or file liens against your business and/or personal assets, send you nasty letters, garnish your wages, and call you to harass you for payment. Fortunately though, you can negotiate with them to resolve these issues. It is better to deal with these issues quickly. The longer you wait the more tax you will pay.


Filing for Bankruptcy

Bankruptcy is a federally mandated way for individuals to get out from the overwhelming weight of their debt. Depending on the type of bankruptcy you qualify for you may be able to eliminate your unsecured debt, keep your assets and start over. The best way to help yourself is to deal with your issues of debt now so you can set yourself up for a better financial tomorrow.

How does filing a bankruptcy stop creditors from harassing you? What debt can you eliminate? Is filing bankruptcy stressful or embarrassing? What assets are protected in a bankruptcy? These are common questions when you are considering filing bankruptcy. All of these questions and concerns will be handled by the attorneys with their guidance and programs that have been designed here at McDonald Law Group. The attorneys in our office have years of experience in managing debt with specialized programs. We are determined at McDonald Law Group to help reduce your debt in the most effective way possible.


Chapter 13 Loan Modification Mediation Program

This program is designed to help homeowners who have recently filed Chapter 13 Bankruptcy. One of the biggest difficulties in dealing with the mortgage companies is getting to the right person. You will call, be transferred, get disconnected, sent to the wrong person, be given false advice, and/or they continually ask you for the same information. This process continues around and around until many home owners give up. In the mediation program the court is requiring the mortgage company to sit down at a table with a mediator and attempt to work out the terms of a modification. The hope is that the program will eliminate the run around and get the modifications done.

Over the years, McDonald Law Group has successfully helped hard working individuals with managing and reducing outstanding debt. We know that people fall on hard times and the bills can get overwhelming and pile up. We also know that everyone is only human and sometimes managing our debt is the last thing on our minds. We are confident that we can help you manage your legal needs in a cost-effective manner.  Please call us at (702) 448-4962 for a free consultation. This information is provided for informational purposes only. It is not legal advice and does not constitute an attorney client relationship.