Preventing Bankruptcy Knoxville – Debt Consolidation

Preventing Bankruptcy Knoxville

Preventing bankruptcy while on Summer vacation is not only possible, but very achievable for most people this Summer. Some of the ideas that you may want to consider for preventing bankruptcy while on vacation include debt consolidation, reducing your expenses, selling off material goods, and cutting transportation costs. By following these simple steps you can be sure to do as much as you can to prevent bankruptcy while on summer vacation.

Debt consolidation is one of the most important things to do when trying to avoid bankruptcy. A licensed, qualified debt consolidation company can help you bring all your debts together and work with your creditors to lower your monthly bill payments. Typically, that means paying them off over a longer period of time, but doing so responsibly can help you raise your credit score and avoid bankruptcy at the same time. This is a first, easy step when initially trying to avoid bankruptcy.

Another way to avoid bankruptcy is to cut down on your expenses. Most folks have a fair amount of non-essential spending in their daily lives. One of the largest and easiest areas to save money on is by reducing the amount that you eat out. By eating all of your meals at home you are going to save a significant amount of money. Some other ideas to try and cut expense include: cutting off your cable TV, buying in bulk, shopping with coupons, and cutting back on entertainment expenses such as movies. Every penny adds up!

Selling your material goods is another way to help prevent bankruptcy while on vacation.  Take stock of your possessions and sell off anything that isn’t absolutely necessary.  Some good categories of items to explore for resell include electronics (TVs, computers, DVD players, cameras), athletic equipment (gym equipment, golf clubs, pools tables etc), and rarely worn clothes. By liquidating these items online in a place such as eBay you can go a long way to preventing bankruptcy while on Summer vacation.

Lastly, another way to prevent bankruptcy is to cut your transportation costs. This is one of the most effective strategies for cutting overall costs. By using public transportation instead of driving a personal automobile you can save a considerable amount of money.  When you add up the gas costs, insurance, and vehicle maintenance it becomes clear that owning a car consumes a lot of monetary resources.

Bracket and Strunk are one of the leading bankruptcy and debt consolidation firms in the Knoxville area. Knoxville bankruptcy lawyer Justin Brackett and Maryville bankruptcy lawyer Brent Strunk both practiced bankruptcy law at other offices prior to creating Brackett & Strunk, PLLC. They decided to build a boutique firm so that we may service the broader needs of debtors. They understand that not everyone in debt needs to file bankruptcy, and they now focus on representing consumers in disputing debts, negotiating settlements, and filing for bankruptcy relief. They take a hands-on approach with each client, reviewing their budget and analyzing their individual needs.