New year, new you?
The start of a new year is an opportunity to reflect on where you’ve been, and where you’d like to go. With a whole twelve months stretching out ahead of you, it’s easy to feel optimistic about achieving your biggest goals. For millions of Americans, that means taking practical steps to get a hold on their finances, and start taking action to manage their debts.
Looking to Get Serious About Debt Relief In the New Year?
Debt is a very real fact of life here in the U.S. — and its effects can be felt far beyond your pocketbook. According to reports, the average American held about $38,000 in personal debt as of 2018, with the most common sources of household debt including credit card debt, mortgages, auto loans, and student loans.
In addition to causing people to put off starting a family, seeking a new job, or purchasing a home, debt can take a real toll on quality of life over time.
Studies have shown that dealing with debt can have an enormous impact on your mental health, and can be a driving force behind severe anxiety, depression, and stress. Financial stress has also been shown to have a physical impact, and cause workers and students to become less productive and engaged. At the same time, surveys have shown that debt and financial issues can cause serious strain on personal relationships.
In short? Your financial health can have a dramatic impact on your overall well-being, your relationships, and your personal life. Getting out from under the burdensome weight of debt in 2020, then, could be a way to make all of your other goals come closer within reach.
So, where can you get started if “dealing with debt” is high on your list of New Year’s resolutions?
Often, it’s going to come down to your unique circumstances — whether you’re facing skyrocketing condo assessments, falling behind on mortgage payments, dealing with persistent debt collectors, or struggling to keep up with student loan debts. With all types of debt, it’s essential to know your rights — including the protections afforded by the Fair Debt Collection Practices Act (FDCPA), the terms of Chicago’s Residential Landlord and Tenant Ordinance (RLTO), and the rules and regulations that guide the foreclosure process in our area. And it’s crucial to understand the steps you can take to relieve your debt, ranging from mediation to bankruptcy.
In all of these areas and more, one of the most important steps you take this year may be to build a relationship with an experienced professional, such as a local attorney concentrating in real estate and bankruptcy law.
In many cases, finding an experienced local attorney is one of the most effective steps forward for anyone facing mounting debts and considering the possibility of pursuing bankruptcy. A knowledgeable bankruptcy attorney can help you weigh all of the unique variables of your situation, ensuring that you don’t overlook anything or miss any key details. An attorney can then help you determine the right solution for your unique needs, including walking you through your options while also providing counseling and guidance so you can protect your assets and, with the right strategy in place, avoid facing such serious debt issues in the future.
Research suggests that up to 40% of Americans make New Year’s Resolutions — but only about 8 or 9% of people actually stick to them. If you’re ready to make this the year that you start working toward your biggest financial goals, the Gunderson Law Firm may be able to help.
If you’re seeking answers or want to get a handle on your unique circumstances, don’t hesitate to get in touch with the Gunderson Law Firm to begin the conversation.
Whether you are a business owner, a wage earner, retired, or otherwise, we can address your specific situation with strategic plans to help put severe indebtedness behind you so you can enjoy life again.
Our professionals possess unparalleled expertise and insight, bolstered by years of experience and valuable connections with many of the top real estate and financial professionals in Chicagoland.
Above all else, we are committed to providing the advocacy you need without the attitude you don’t. If you have found other lawyers to be more about their egos than about your case, talk to Gunderson Law Firm. Our attorneys are not only highly knowledgeable and experienced, but very down-to-earth. We’re all about great representation and timely results, tailored to your unique circumstances. Don’t hesitate to drop us a line whenever you’re ready to keep the conversation going — we’ll be here all year!