Yes, actually you can pay your debt! Sadly, you won’t be able to escape your creditors’ harassment or their legal right to sue you until you pay in full or file bankruptcy. Even if you manage to set up a payment plan with your creditor, you will still be expected to pay monthly—even in a financial emergency.
So, what happens if you just came up on a rough patch in life and still want to pay your debt eventually? Bankruptcy can seem like a drastic option.
While it’s true that a bankruptcy releases you from the legal responsibility to pay back your loans, it doesn’t prevent you from doing it. Many people need a bankruptcy to relieve them from creditors and give them a financial break, but feel better paying their loan back eventually. Only bankruptcy gives you the option to pay at your own pace.
Frequently Asked Questions About How to Pay Your Debt
- How can I keep paying my creditors after the bankruptcy?
It’s super simple! Just reach out to your creditor after your bankruptcy has been discharged and tell them you’d like to make payments on the debt.
- Which creditor do I pay first?
Remember, after you file bankruptcy, you’re not obligated to pay your creditors. However, you still can if you feel better doing so. Consider first paying those whom you have a personal relationship with, or any providers—including doctors—you want to continue working with.
We know that some people feel uncomfortable releasing themselves from debts they promised to pay. It may be hard to consider filing bankruptcy, especially if you feel committed to paying your loans eventually.
We get it. No one asks to find themselves in financial hardship, and sometimes life just happens. If bills from your loans are eating you alive, creditors are harassing you, or you’re facing lawsuits from one or several creditors, consider bankruptcy as a means to help you breathe and provide for yourself and your family while you financially recover. Then, when you feel the time is right, pay them back—at your own pace, in your own time, at your own will.
Our Experienced Nebraska Bankruptcy Attorneys Can Help
If you’re wondering if filing for bankruptcy in Nebraska is right for you, give us at Steffens Law Office a call at (308) 872-8327. We’re eager to help you on your path toward financial freedom.