Is Bankruptcy Right for YOU?

Most people are aware that bankruptcy can provide debt relief, but many don’t think it is the right time for them to file. There is no magic equation to apply to your circumstances to determine the best time for you to file a personal bankruptcy case, but there are certain situations that indicate that filing a Chapter 7 or Chapter 13 may be warranted. Below are a few examples:

  • Foreclosure is being threatened or has been filed against your home
  • Creditors have seized or are threatening to repossess assets
  • A creditor is garnishing your bank account or your wages
  • Your paycheck doesn’t cover your bills
  • You have collection lawsuits filed against you
  • You have debt collectors harassing you to pay your bills
  • The majority of your debt is unsecured (credit cards, medical bills, etc.)
  • You are delinquent on your taxes
  • You have costly medical bills and no (or inadequate) insurance
  • You will not be able to pay your total debt within five years (excluding your vehicle and mortgage payment)
  • You have no savings

The above list is only a few examples of circumstances that indicate you should consider filing a Chapter 7 or Chapter 13 case. There are many other financial troubles that can be improved by filing bankruptcy. If you are facing financial difficulties and you are not sure what your next step should be, let us help.

We understand that deciding whether to file for bankruptcy is difficult. To learn more about how a personal bankruptcy could improve your finances, contact us to schedule an appointment. We can help you determine the best strategy for obtaining the debt relief you need. Contact us today by calling (480) 888-7111 or submit a web request here.