As the New Year is upon us, it is time to take stock at the year past and see what changes we can make to ensure a brighter future. Review your last paystubs, w-2's or 1099's, and determine your income for the year and divide it by 12 months to calculate your monthly gross. Next, force yourself to look at the stack of bills you have and determine how much your monthly expenses are. Then ask the following question: Can you continue to go on for another year living pay check to pay check, robbing Peter to pay Paul, while at the same time not saving for your children's education or ever taking a vacation? Banks and credit card companies charge outrageous interest rates on money that will be paid back several times over. The big lenders want you to borrow more, want you to default, want you to be over your credit limit, and want you to pay late, because when these things happen the big bad banks make more money off of you! The real irony here is that these same banks are the ones getting bailed out by your tax dollars. Many consumers, struggling with mounting credit card debt, higher mortgage payments, and higher prices are feeling the squeeze on their wallets. This debt burden, coupled with the loss of jobs, cuts in hours, and cuts in pay have many Americans feeling the pinch.

If you are in this category, then it is time that you consider your options. Perhaps credit counseling, debt consolidation or filing bankruptcy may be the solution to your debt woes. Do something now while you still have an opportunity to save what assets and wages you still have.

If you are contemplating any of these solutions, it is always better to do it sooner rather than later, before it is too late.  Contact the attorneys at Belsky, Weinberg, & Horowitz, LLC, for a free consultation.