A real estate foreclosure is a traumatic life event whose effects have layered implications like financial setbacks, and feelings of anxiety tied to the fear of eviction and consequent homelessness. While these are valid reactions, the good news is, even as you go through this foreclosure process, there are coping strategies that can assist you through this time. Keep reading for tips on how to survive the uncertain phases of foreclosure.
1. Reserve a self-storage facility.
Self-Storage is a great way to store extra items and declutter your home, office space, or garage. Storage facilities have different-sized individual storage units that they rent out on a short term monthly basis or lease basis.
When going through a foreclosure, making a storage unit reservation may be the best option to relieve you of the added burden of a new move. You may need self-storage if you are downsizing to a smaller home, still looking for a new home, or if your new home is not yet ready for occupation.
Some factors to consider when seeking out a self-storage facility:
- Modern facilities: Consider the presence of surveillance cameras, lighting, and computer-controlled access to guarantee the security for your sensitive items.
- Management: The presence of an on-site property manager may offer better customer service.
- Hidden perks: Some rental storage facilities offer their first-time renters the use of a free moving truck when moving into the storage facility. Other companies may even offer their renters a free move, or even cater to your moving needs at a reasonable price. Take these details into account when booking a self-storage space as it may save you money in moving costs.
U.S. Storage Units is an online US storage center comparison network that highlights the best self-storage facilities in the United States. To find affordable self-storage solutions for your personal storage needs, visit their website, enter your city or zip code and they will connect you to the best storage-rental facilities in your area. Considered America’s first choice for personal self-storage, its online rental search feature is optimized and includes filters based on amenities such as enclosed storage unit space for your vehicle or boat storage needs.
2. Seek debt relief options.
A debt relief agency will help you avoid creditor harassment and garnishment by offering workable solutions to manage your overwhelming debt. They can do this by evaluating your finances and creating a budget that will allow you to make the debt payments you can afford. The most common debt relief options include credit counseling, debt management, debt settlement, and bankruptcy relief.
Declaring bankruptcy is often the last resort when you have overwhelming debt that you cannot repay and face the risk of foreclosure and repossession. Filing for bankruptcy allows you and your family a fresh start and the best possible chance of leading less stressful healthier lives. The first step in filing for bankruptcy is seeking out a bankruptcy lawyer with years of experience in filing bankruptcy cases.
While you can always file for bankruptcy under the bankruptcy code individually, hiring a bankruptcy attorney is a best practice. Nick C. Thompson is a bankruptcy lawyer in Louisville KY with a rich history of community involvement and experience in filing bankruptcy cases in the Louisville Kentucky Bankruptcy Court.
When dealing with unmanageable debt and overwhelming financial problems, the last thing you want to do is pay exorbitant legal fees to an attorney to assist with your bankruptcy case. Accounting for this, their law firm offers a free consultation as they take you through what to expect during the bankruptcy process.
3. Find support.
Filing for bankruptcy can make it difficult to find a good job or even a place to live due to a poor credit score. Do not isolate yourself out of fear of judgment. Reach out to family members and friends who care about you for support if you need it. Consider moving in with a friend or relative as you consider your options.
Real estate foreclosure and bankruptcy have difficult and far-reaching financial and emotional implications. However, there are ways out of this difficulty, and you will recover.