A lot of times people may think that their financial situation is so dire that they have no other choice but to file for personal bankruptcy. It would be beneficial for these people to meet with a Manhattan bankruptcy attorney because there may be other alternatives. A Manhattan bankruptcy attorney can help you to analyze your particular situation and find things that you can try prior to filing for bankruptcy. Your Manhattan bankruptcy attorney can act as your official representative between you and your creditors as you exhaust every option before turning to bankruptcy. You or your Manhattan bankruptcy attorney can contact each of your creditors to find out how they may be able to assist you during your difficult time. If they know that you are on the verge of filing for bankruptcy then they may be more willing to offer assistance to you. They know that if you eventually decide to file for bankruptcy they will not be able to recover any of the money that you owe them. But if that are willing to compromise and work with you then they will be able to get at least some of what you owe them. Some options that may be presented to you by your creditors may be to adhere to a fixed monthly payment plan. Sometimes under an agreement like this, late or over the credit limit fees are halted if you agree to pay a certain amount each month. For added assurance, your creditor may request that you schedule automatic payments at preset intervals. If you are successful at this for a predetermined amount of time then your creditor may reward you by bringing your account out of the negative standing and into a current status. They may also lower your interest rate. Creditors have an assortment of tools at their disposal to help you but they have to know what you are going through in order to be able to help you effectively.