The kitchen table should look open and tidy. Instead, you’re staring at piles of bills, each one telling you that you’re overdue on a payment. There are first notices. There are second notices. In fact, you even have a few talking about repossession. It’s all there, adding stress to you’re already nerve-racking day.
What do you do in this situation? Is it too late to find help and get out of this financial chaos? There are possible solutions, and many of them start with you. To reach financial solvency, consider taking the following measures.
- Face the Situation Head On
If you’ve been stuffing those bills into drawers, take them out and look at them. You need to understand how much you owe and to whom. Open up your computer and make a spreadsheet list, itemizing each bill. Write out the monthly minimum and how much you’ll have to pay in interest.
- Speak With a Financial Advisor
Set up a time to discuss your situation with a financial expert. This person may suggest several options to you, including finding a Rockville bankruptcy lawyer who could assist with removing some of your debt. It’s essential to have an open conversation about all of the selections, including any potential fallbacks that could impact your credit down the road.
Ask a lot of questions about how to pay off what you owe, including making an effort to prioritize certain accounts or debt over others.
- Stop Using Credit
Consider tucking your credit card away for a while. Save it for emergencies such as a broken car or medical need. Otherwise, take out cash for the week and use it as best as possible for your groceries, gas and expenses. This step may help keep you on track and avoid excess spending.
Start using that dining table for meals again! Clear it off, and face the debt. Work with specialists to find a way to recover and feel good again.