Assessing Your Financial Situation: How a Lawyer Can Tailor Solutions to Your Needs

Assessing Your Financial Situation: How a Lawyer Can Tailor Solutions to Your Needs

Some financial situations can feel impossible to escape. However, this may not always be the case when you have an experienced lawyer who can help. Not only can a lawyer assess your financial situation to determine your options, but a lawyer can also guide you in the right direction. Take action by consulting with a Tullahoma bankruptcy attorney to find out more information.

Assessing Your Financial Situation

You can assess your financial situation by laying out all of your finances and what money you owe. Start by making a list of your financial assets including money in your savings account, in your checking account, personal property of value, CDs, investments, retirement accounts, savings bonds, and any other financial assets. Next to this, list out all the money you owe including debt, monthly bills, and any other expenses.

Add up your total financial assets and then add up your total money owed. This will give you a greater idea of where you stand financially. By comparing how much money you have to how much money you owe, you will be able to determine your financial goals. Financial goals are what will help you escape your financial situation. Common examples include paying off all debt, building retirement, or saving up for a large purchase.

A lawyer can also help you assess your financial situation through recommendations and guidance. Feel free to reach out to a lawyer with financial experience to start this process.

How a Lawyer Can Tailor Financial Solutions

You might be wondering how a financial lawyer can tailor your financial solutions. Lawyers with experience in finance can help you balance budgets, interpret tax returns, offer guidance on starting a business, and work with you on financial statements. Not only that, but a lawyer might be able to help you figure out your options when dealing with a financial crisis.

Lawyers may help you escape financial consequences by building a legal defense. In other situations, a lawyer may help you assess your legal options when faced with a financial consequence related to legal issues. When your debt is overtaking you, a lawyer can guide you in negotiating with creditors to lower your debt.

If creditors harass or abuse you, a lawyer can help you take legal action against them to stop harassment. Another option for this is filing for bankruptcy. An experienced bankruptcy lawyer can explain all the options available for bankruptcy to help you choose the best fit for you.

People struggling with overdue bills, overdraft fees, maxed-out credit cards, and not qualifying for debt relief companies may benefit from hiring a bankruptcy lawyer. A lawyer can determine possible solutions based on your specific financial issues.

Call Tom Bible Law Today

Dealing with a financial crisis alone can be overwhelming. Do not hesitate to call us at Tom Bible Law today at (423) 424-3116 for a consultation about your financial dilemma. Our dedicated team of Tennessee bankruptcy lawyers is ready to help you assess your unique financial situation to find the best solutions for you. We can be found in the Tennessee cities of Chattanooga and Tullahoma.

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