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We represent, consult with and advise people, families and businesses with financial concerns or questions every day. We see people at all stages of financial crisis. From those who have never missed a payment and have a 750+ credit score, to those who are about to lose their home next week and at every phase in between. The one thing I have learned in the last 26 plus years is, it is never too early to seek information. The sooner you address your situation; the more options you will have available to you.

There are also consequences to the various options. You need to be informed as to all the ramifications of whatever decision you make.

Common financial mistakes people make:

Ignoring overdue notices.

You need to be proactive and now, wherever you are in the process.

Depleting one’s 401K or retirement account

In almost every case, using retirement funds does not solve a thing. Most people end up deeper in debt, with no retirement money and a huge tax obligation. Never use your retirement money until you are fully educated on all other options.

Debt forgiveness

The economy is so bad that banks are now offering some debtors settlements of 20% or even 50% of the balance. It sounds good. It is, but there are tax and credit consequences that you need to consider.

Only focus is to save your home

No one wants to lose their home. The first priority is to save your home. That is where we always begin. But can you? Should you?

So Much More

There are endless arrays of circumstances you will face. The only way to maximize you benefits and limit your damage at whatever stage in the process you are, is to learn all of the options available and the consequences of each. Make a fully educated decision.

Contact Bellenot & Boufford, LLC for more information. / 203-304-9050

Serving Danbury, Connecticut and all of Fairfield and New Haven Counties.

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