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Is Bankruptcy An Option for Me? The Tell-Tale Signs

Posted by attorney Ian Leavengood

In these tough financial times, many consumers are struggling to pay their debts and are wondering if they must continue to endure with this seemingly endless struggle....or if there are other options available to them. Bankruptcy laws exists for this very reason and should at least be considered when a consumer is considering his or her options when it comes to handling their debts.

The tell tales signs that a bankruptcy should be considred and may in fact be needed to get someone a fresh start are:

1. Are you having trouble making ends meet on a month-to-month?

2. Do you keep making minimum monthly payments yet the balances do not diminish?

3. Are you receivng debt collection calls from either creditors or debt collectors?

If these situations sound familiar, you might need to consider all of your options, including what a bankrutpcy would look like based upon your specific facts and circumstances. For those in truly dire circumstnaces, a chapter 7 bankruptcy might be the correct bankruptcy to consider.

For those that have a job but need a little assistnace in making their payments and in reducing the amount of interest and late fees that are being paid, a chapter 13 bankruptcy is a viable, strong potential solution that should be considered. Lastly, reach out to an experience consumer bankruptcy attorney who has filed many cases and has dealt with the system. WIth these tough financial times, many lawyers that never practiced bankruptcy are not starting to "dabble" in this area of law. With something as important as your financial future, so you want to dabble? Call or visit an experienced bankrutpcy attorney today and discuss at a free initial consultation your options.

Additional resources provided by the author

If you have any further questions about bankruptcy and would like to discuss your facts and circumstances, please visit our websites below and give us a call -- we will look forward to assisting you.

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