Repairing Your Financial Situation

Posted on: 26 July 2019

If you have been toying around with the idea of filing for bankruptcy but you are not yet sure as to whether that would be the right move for you, you will want to keep reading. By taking a few moments to examine the following points, you will be able to figure out if it is indeed time for you to make an appointment with a local bankruptcy law firm. Here are those points:

You Are Hiding From The Collection Calls

When you first fell behind on your bills, it may not have seemed as though the collection calls were overwhelming. You might not have worried about them, especially since they only called occasionally. However, as your payments fell further and further behind, you may have found that your creditors started calling every day and they even started calling you at work. If you now have anxiety when the phone rings and you find yourself apologizing a lot to your boss about the debt collection calls, then it might be time to talk with an attorney.

You Have Tried To Make Payments But Without Success

In some cases, people fall so behind with their bills that the creditors demand a certain dollar amount for a payment and they will not accept anything less. If you have tried to make some payments, but have not been able to make the amount that the creditors are demanding, it might be time to talk with a bankruptcy attorney. They can help you decide if chapter 7 or 13 is right for you, based on your debts and your current income situation. If you file for chapter 7, your creditors won't get a penny. If you file for chapter 13, then your creditors have no choice other than to accept the payments that the bankruptcy court deems appropriate.

Make sure that you are calling to schedule a consultation with an attorney as soon as possible. After all, the collection efforts from those you owe money to are not going to stop until you officially file and have a case number. After setting your appointment, pull out your records and grab a recent statement from all of the companies that you owe money to. If you have creditors that you owe money to, but you know that it's been a long time since you received anything, you will want to pull up your credit report and write down their information. You need to make sure that you have all of the information on all of your debts so everything can be included in your bankruptcy filing. Contact a bankruptcy law firm for more information.