You are in over your head. The amount of debt you have simply cannot be repaid with the income you are making. Well-meaning family and friends who sense your stress suggest that you take on a second job, look for a better job, or find some other way to increase your income. Your Minneapolis debt reduction lawyer might suggest that too, if it is possible. However, sometimes it’s not possible to go out and make more money. Whether it is the economy, your health, or your need to care for your children that prevents you from increasing your income, there may be alternatives available that allow you to reduce your debt without making more money.
How to Reduce Debt without Increasing Income
With the help of an experienced Minneapolis debt reduction attorney, you may be able to reduce your debt by modifying existing loans. There are different ways to modify a loan. For example, your lawyer may be able to:
- Extend the life of the loan to decrease your monthly payments.
- Lower your interest rate.
- Change other repayment terms.
- Lower the total amount that you owe.
Banks, and other lenders, have professionals working to protect their interest in your loan. You deserve the same opportunity, and an experienced St. Paul debt reduction lawyer can help protect your rights as you renegotiate a loan.
How to Contact a Minneapolis Debt Reduction Attorney for Help
Please fill out our online contact form or call us at MN (952) 920-1001 or AZ (480) 207-2203 to schedule a FREE consultation with a St. Paul debt reduction attorney today. Let’s discuss how to protect your financial future, even if you can’t increase your income.