My bank has offered me a hardship plan. Should I take it?

Only you can decide what financial plan is best for you. However, before you accept a hardship plan or similar offer, you need to be aware of the potential downsides. They may give you a temporarily reduced interest rate, but it will most likely not be long enough to repay your debts. At the end of your “grace period,” you may find yourself owing more money than before.

For important advice about your individual circumstances and the best options for you, contact Austin bankruptcy lawyers Slater, Kennon & Jameson, LLP, at 512-338-1100.

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