Does this Sound Like You? Bankruptcy may be an Option for You!

September 13, 2012

Times are tough!  There is not enough money to pay the bills.  This may be a temporary problem, or a more serious problem that you can not recover from.  I’ve been advising clients who are considering filing a bankruptcy case for 30 years.  When clients are experiencing these fact patterns, I know that bankruptcy is a good option.

1.  You are unable to pay anything more than the minimum, required payment on a credit card or cards for more than three months in a row;

2.  You have obtained a title loan or a pay day loan;

3.  You have obtained a loan from a retirement account or (much worse) you took money from a retirement account to pay any bill;

4.  You are unable to pay your home mortgage or car loans;

5.  Creditors are calling you at home or work;

6.  Creditors are writing demand letters to collect debt;

7.  Creditors are calling your friends, neighbors or relatives (talk about embarrassing!);

Almost every client I counsel tells me, “I used to have perfect credit”.  Nobody has perfect credit.  Everyone has paid a bill late and that will affect your credit.  However, if you have debt problems, you need to consult a bankruptcy attorney who can explore your bankruptcy options for you.  Most attorneys offer a free consultation with their office.  Exploring your options when you have overwhelming debt is a sound financial move.   Addressing your debt problems can help take away your debt problems and get you back to restoring your credit.



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