Spring Legal Group – About Us
By the fourth quarter of 2019, U.S. household debt reached an astounding $14 trillion, an increase of $193 billion over the previous quarter, according to the FRB of New York. Mortgage loans led the increase soaring by $120 billion with credit card debt rising to $46 billion. Student loans increased by $10 billion. Unsurprisingly, delinquencies are also increasing, especially among younger consumers. If you are facing a mountain of debt and struggling to overcome it, Spring Legal Group can help.
Finding the Right Debt Management Option for You
Dealing with debt can be difficult even in ideal circumstances. When you’re dealing with unexpected issues, such as divorce or health problems, debt can start to snowball out of control. You soon find that you have creditors calling, bills piling up, and foreclosure looming. Our experts at Spring Legal Group offer a variety of options that can help you get back on your feet and on your way to financial freedom.
Bankruptcy is a highly effective debt management strategy. If you are eligible for a Chapter 7 bankruptcy, your bankruptcy trustee will liquidate your non-exempt assets to pay some or all of your debts. Any remaining debts will be discharged, and you will be free from debt. In a Chapter 13 bankruptcy, your trustee will work with you, our legal team and your creditors to develop a manageable repayment program. This program will remain in effect for three to five years. After that period, the debts that remain may be eligible for discharge, and you will have a financial fresh start.
Consumers are protected from unfair, deceptive and harassing debt collection practices. The FDCPA outlines how and when debt collectors can communicate with you. If a debt collector violates the FDCPA, you can file a complaint and they can be held liable. Spring Legal Group will fight to protect your rights and work to help you achieve justice.
If you’re struggling with debts but bankruptcy is not the right choice for your situation, you might be eligible for debt negotiation. During debt negotiation, our attorney will work with your creditor to negotiate your debt to a more affordable amount. We can often settle your debt for a fraction of the original amount, and your creditors will still get paid.
When creditors are unable to collect on a debt, they may turn to litigation. If you receive a summons, do not ignore it. A summons is a legal notice that a creditor is taking action against you. It will notify you of how and when you need to respond. Our legal experts can help you fight for your rights, protect your property and mount a defense.
Call Spring Legal Group to learn more about how we can help you manage your debt and achieve financial freedom. Schedule your free no-obligation consultation today.