Borrowing from a friend or family can be a legitimate way to get out of debt but beware. If you can borrow the money from someone and are able to pay them back at a later date, we would suggest that as an option, but you should do so at your own risk. This type of borrowing can speed up the time it takes you to get yourself out of debt, but might not appear as easy as it seems. If you are unable to pay your creditors, and then you borrow from someone you know to pay your creditors back, you run the risk of ruining a relationship because you probably won’t be able to pay that person back either. We have heard many horror stories from clients who have borrowed money from friends or family members and then ruined those relationships because they were unable to pay them back. It’s probably better off to keep family/friends and money separated.

At S.J. Packman & Associates, before we make any recommendations, our attorneys, certified debt specialists, and paralegals, are trained to ask the right questions to find out about your specific situation. Based on your current income and your financial hardship, we will determine which course of action will work best for you. We do not only offer one path, as there is no one process that can solve everyone’s needs. We will take our time with you and help evaluate what your best course of action should be. Call now and one of our advisors will be there to get you started on your path to financial freedom. There is no obligation to enroll, so don’t delay.