Bankruptcy Counseling Aberdeen SD

Local resource for evaluating bankruptcy counseling in Aberdeen. Includes detailed information on local businesses that provide access to bankruptcy lawyer and bankruptcy counseling, as well as advice on filing for bankruptcy, bankruptcy requirements, bankruptcy law, personal bankruptcy, business bankruptcy, liquidation bankruptcy and reorganization bankruptcy.

William K. Sauck Jr.
(605) 225-6310
One Court Street, P.O. Box 1030
Aberdeen, SD
Credit Counseling
(605) 229-3735
15 4th Ave Sw
Aberdeen, SD
Consumer Credit Counseling
(605) 229-5140
202 S Main St Ste 228
Aberdeen, SD
A A A Debt Hotline
(605) 229-3735
15 4th Ave Sw
Aberdeen, SD
Ronayne & Wein LLP
(605) 225-0100
24 5th Ave Sw
Aberdeen, SD
Law Office of Christopher D Dohrer
(605) 226-1673
202 S Main St Ste 600
Aberdeen, SD
Rice & Ewinger
(605) 225-9594
200 Citizens Bldg
Aberdeen, SD
Fransen David J
(605) 226-8234
422 5th Ave Se
Aberdeen, SD
(605) 229-5140
202 S Main St Ste 228
Aberdeen, SD
Total Bankruptcy has a participating attorney in BROOKINGS
(866) 525-2557
317 Sixth Avenue
Take control of your finances today! We have an extensive nationwide network of local, sponsoring bankrupcty attorneys. Call to discuss your options for stopping creditor harassment. We also have information on filing for chapter 7 and chapter 13 bankruptcy. Personal bankruptcy may be an option for you. Call today!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Bankruptcy's Early Warning Signs

Provided By: Realty Times

Bankruptcy filings jumped 40 percent in 2007, after sharp declines from a year earlier when the new bankruptcy law made it more difficult to seek bankruptcy-court protection from creditors.

The new law, Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was first effective in 2006.

Even though the law makes bankruptcy a more difficult option to use, rising mortgage payments, job losses and other financial pressures pushed up the bankruptcy rate after more and more consumers found no other recourse, according to the American Bankruptcy Institute.

The Association of Independent Consumer Credit Counseling Agencies (AICCCA) says there's often an alternative to bankruptcy if consumers know the warning signs and seek help as soon as the red flags fly.

The association has developed a set of warning signs as a tip off to trouble ahead. If you experience two or more you should immediately seek help.

The warning signs are:

  • Living paycheck to paycheck. Losing a job or a decrease in pay could be the final straw. Only a few months separates many consumers from a financial choke hold unless a quick change can be made to raise some cash or lower debt -- or both.

  • No savings cushion. Americans' average savings rate is slim to none. If you spend more than you earn, an unexpected and costly change, say a divorce, major home repair or car expense, could cause severe financial trauma.

  • Being under insured. A large portion of bankruptcies involve medical debt. If you can't afford the cost of an insurable incident without insurance, get insurance. If you lack insurance you also lack the wherewithal to cover sudden medical debt, home or car expenses and those other unexpected events.

  • A non-mortgage debt-to-income ratio that is more than 20 percent. For those who spend more than 20 percent of their take home pay for non-mortgage debt, again, without a drastic change, financial frustration could become chronic.

  • Making only minimum payments on credit cards. Paying only the minimum amount due means staying in debt longer and at a greater cost than is prudent. Those unable to make more than a minimum payment are at the mercy of even the slightest change in their financial condition.

If two of those red flags are signaling you, chances are you need financial counseling, assistance or both.

AICCCA and its members offer such counseling referrals. Other help is available from a host of other groups, including National Foundation for Credit Counseling (NFCC); NeighborWorks of America; Association of Community Organizations for Reform Now (ACORN); U.S. Department Of Housing and Urban Development; and local community and social service programs.

Author: Broderick Perkins
Copyright © 2008 Realty Times. All Rights Reserved.


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