Many people confronted with the reality of high levels of unsustainable debt find that liquidating and selling their assets is the best way to make the money they need to pay off their creditors. However, it can be overwhelming at first to make decisions about how to get out of debt when there are so many options at your disposal. The following article will discuss the various different sale options at your disposal and the benefits of each.
Some of the most common options at your disposal include:
- Negotiated sale – If time is a factor, a negotiated sale of business property to competitors may be an excellent way to quickly make money.
- Consignment sale – While not as quick as a negotiated sale, a consignment sale (in which your property is turned over to a dealer who pays you an agreed-upon amount following the sale) may be an excellent choice.
While it may be painful to sell your property, it may also be the best way to quickly raise much-needed cash to pay off serious debts.
If you or someone you love is considering filing for bankruptcy in order to reduce his or her debt, the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office may be able to help. To learn more about what we can do, contact us today by calling 414-377-0518.