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Hiring a Bankruptcy Lawyer: Should you Declare Bankruptcy?


Do you want to be debt-free? Are sleazy collectors harassing you? Are bills cluttering your mailbox? Are you only making minimum payments on your credit cards? A bankruptcy lawyer can help you obtain relief from your debts. Many individuals have turned to bankruptcy as a solution to their financial problems. The following information will help you decide if you should throw in the towel.

If you don’t have any assets and the majority of your debts are unsecured, you should consider filing for a Chapter 7 bankruptcy. Chapter 13 is a better option if you have assets that would otherwise be liquidated in a Chapter 7 case. Bankruptcy will help you get rid of most of your debts, but you will still be responsible for paying child support, back taxes, legal expenses, and alimony.

Are your creditors and lenders threatening to sue you? Don’t let your creditors garnish your wages and seize your assets. Filing for bankruptcy will prevent your creditors from obtaining judgments against you. If your lenders and creditors have already gotten judgments against you and garnished your wages, filing for bankruptcy may help you get some of that money back.

Are you struggling with medical bills? Bills for prescription medication, medical supplies, hospital stays, and ambulance services can cripple a person’s finances. Declaring bankruptcy and medical bills often go hand-in-hand. Bankruptcy can help you get rid of your medical debts once and for all.

Are you unemployed? Is your bank account empty? Do you use credit cards to pay for food, clothing, and other necessities? Medical bills, job loss, divorce, and other personal setbacks drive many people into excessive debt. You should consider filing for bankruptcy if you do not have the cash to pay your debts off.

Are you struggling with mortgage payments? Are you afraid you might lose your home? Declaring bankruptcy can delay the foreclosure process and allow you to keep your property. If you file for bankruptcy, you will be granted an automatic stay. This means that your lenders and creditors won’t be able to continue collection practices against you while your bankruptcy is in process.

Are you suffering from debt-related stress? You are not alone. Research shows that among those with the most debt stress are married couples, households with incomes less than $20,000, women, and people who are in their 30’s and 40’s. Those with the least debt stress are single people, wealthy households with incomes greater than $100,000, men, and those who are 60 and older.

Whether to stop a wage garnishment, foreclosure on a house, or repossession of a vehicle, bankruptcy can provide a fresh start. If want to get out of a sticky financial situation, contact a qualified bankruptcy lawyer to talk about your options. A bankruptcy lawyer can help you decide if filing for bankruptcy is a viable option for you.

When seeking legal information, be sure to check a wide variety of sources, including this one: http://www.articlenerd.com/.