No one wants to file for bankruptcy. The world we live in is fast-paced and jobs are scarce, pay raises are scarce, but the cost of living is increasing rapidly. It is easy to find yourself overwhelmed with debt and burdened with payments that you cannot afford to make. Many people consider consumer credit counseling, but the objective is to get your payments manageable to where you can live comfortably without recreating debt. In some cases, bankruptcy is the best option for you and your family, and that is okay.
When should I contact a bankruptcy lawyer?
- You should speak with a lawyer when your debt has become too much to manage. If you’re struggling to make your monthly payments and are continuing to use credit to make ends meet, then you should consult with a lawyer to see if bankruptcy is right for you.
- Consider bankruptcy when there are no other options. You have tried to pay off loans, but your debt continues to multiple. You have explored all avenues to pay back your loans but nothing is working.
- Contact a lawyer if creditors are harassing you about late payments or balances that are over the limit. Or call if they are threatening legal action against you.
If I decide to file bankruptcy, can I keep my house and car?
Yes. Provisions are available for you to keep your house and car during a bankruptcy. Both chapter 7 and 13 bankruptcies allow you to continue making payments on car loans and mortgages.
How do I know which chapter bankruptcy to file?
One of our experienced lawyers can help you navigate the bankruptcy process. We will talk with you about your personal situation and help you through each step of the process. For more information about our services and how we can help you get out of debt, contact us.