Alternative to Bankruptcy

DuPage County Bankruptcy Alternatives Attorney

Falling behind on monthly payments is no picnic. When the creditors call, there is no extra money to make even a small payment, and the nightmare just seems to go on and on. What can a hard working person do? If you are not comfortable filing for Chapter 7 or Chapter 13 bankruptcy, there are alternatives you can consider first.

Principal attorney Jon Noel Dowat at Thinking Outside The Box, Inc., in Warrenville, Illinois, is available for a free initial consultation in our Warrenville, Illinois, office. We can help you assess your financial situation, evaluate your options, and help you find the financial solution that is right for you. Call 888-777-4193 toll free or 630-333-9589 locally.

Exploring Creative Solutions

At Thinking Outside The Box, Inc., we focus on providing creative solutions for clients struggling with financial and tax problems. Founding attorney Jon Noel Dowat has 18 years of experience in financial planning and accounting, and he can help you work through possible solutions, including:

  • Negotiating with your lender. It may be possible to contact your credit card company or mortgage lender to work out a more favorable interest rate or payment schedule.
  • Selling assets. You could sell that pickup you only use on Saturdays to pay down credit card or medical debt.
  • Consolidating debt. You might consider taking out a loan that lets you make one affordable monthly payment to service your debt.
  • Working with a credit counselor. If you decide to go this route, make sure to choose a non-profit credit counseling service with reasonable fees. Debt negotiated through a credit counseling service typically is paid in full, while debts repaid through Chapter 13 bankruptcy are usually cents on the dollar.