O’Bryan Law Offices represents Bankruptcy clients throughout all of Kentucky and Southern Indiana. We offer in-person and video/telephone consultations for people so they can understand their financial options from the comfort of their own home.
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What to know about debt relief programs

Kentucky residents and others who need help repaying student loan or credit card debt balances could benefit from enrolling in debt relief programs. A debt relief program may allow a person to renegotiate the terms of a loan or obtain other types of assistance. Those who work with credit counselors may also get advice about how they can better manage their finances. In some cases, this is all a person needs to understand how to get out of debt.

There are many different debt relief options a person may be able to choose from. For instance, an individual may qualify for a debt management plan to help pay off a credit card balance in a timely manner. Debtors who have personal, student or other types of loans may benefit more from obtaining a consolidation loan. However, those who choose to seek debt relief by consolidating existing balances may need to meet minimum credit requirements.

A debt settlement plan may be ideal for anyone who is not current on their debt and can pay the settlement amount in a lump sum. As there are likely multiple debt relief agencies in a given area, individuals are encouraged to do detailed research on an organization before seeking assistance. This can help to ensure that a person is working with a reputable and affordable service provider.

Individuals who are seeking debt relief may be able to do so by filing for bankruptcy. A debtor who wants to file for bankruptcy may learn more about how to do so from a Louisville bankruptcy attorney. An attorney may also be able to provide insight into other options that a person may have such as working with a credit counselor. Typically, debtors must take a credit counseling course before a bankruptcy case can be discharged.


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