Tayne Law Group

Common reasons for debt

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Common Reasons for Debt

Not all debt is created equal. From credit card debt, to student loans, to medical debt –many consumers feel like they are living their own debt crisis.

Consumers often incur household debt after a loss of job or income, divorce, business losses, and unexpected expenses. The most common type of debt are loans, but credit card debt is extremely common for consumers of all ages, income levels, and careers.

Debt results from many factors. Some of those factors are within our control, and others are not. We can’t always predict when we’re going to get hit with high medical costs, or when an emergency expense is going to pop up. Sometimes we have enough money saved, while other times we have no other choice but to borrow the money and plan on paying it back later.

Fortunately, you have options to get out of debt. No matter the form of debt, we help you understand which options make best sense for your specific financial situation.

During your free consultation call, we will come up with a debt repayment or debt settlement plan that works for you. A debt settlement plan involves a regular payment plan of one low and manageable monthly fee. This monthly payment will include your loan payments and/or credit card payments in addition to any and all legal fees.

Our goal at Tayne Law Firm is to give you peace of mind. We understand that life happens, and we want to help you make the best possible financial choices for you, your family, your business, and everything impacted by consumer debt.


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