When facing a rising tide of debt and with little means to stay afloat, most people assume their only recourse is bankruptcy. However, there are other ways to handle financial problems.
Here at Pierce & Shows, APLC, in Louisiana, we represent numerous clients who have suffered catastrophic injuries in a motor vehicle accident. Consequently, we know that one of the worst injuries you can suffer in a car crash is a traumatic brain injury. Unfortunately, approximately 286,000 people suffer such an injury each year according to the Centers for Disease Control and Prevention.
If you are like most people in Louisiana, you have some type of credit or debt. This might be in the form of an auto loan, a student loan, a credit card or a home mortgage. You know that when you accept loans or credit, you have the obligation to repay any debt but you also know that there are situations which may arise that make that repayment difficult if not impossible. When this happens, it is important to assess your options and this includes having a good understanding of the two different types of debt.