Money Problems: Signs It Might Be Time to File For Bankruptcy

 

Managing your finances is one of the most challenging things you will do as an adult. There may come a time when a changing financial situation leads to your inability to pay your existing bills. In most cases, people in this situation will file for bankruptcy. Each year, thousands of American consumers choose bankruptcy as their method for dealing with financial hardships. 

While no one wants to file for bankruptcy, it may be necessary if you don’t have a way to meet your existing financial obligations. With the help of a bankruptcy attorney, getting through this difficult process will be much easier. When it is time to consider filing bankruptcy, you may notice some of the signs mentioned below.  

Creditors are Aggressively Pursuing You

Ongoing harassment from creditors is one of the main problems people with money problems face. Many creditors will stop at nothing to recoup some of the money they are owed by a consumer. If you are getting harassing phone calls or letters from your creditors, it is time to consider hiring a bankruptcy attorney. 

A bankruptcy attorney can help you put an end to this harassment. One of the first things a bankruptcy attorney will do is contact your creditors and let them know about your impending bankruptcy filing. They will also send out letters to these creditors asking them to cease and desist with their attempts at collecting the money you owe them. By getting this professional legal help, you can put the stress of being harassed by creditors behind you for good. 

You Have a Legitimate Reason For Your Financial Struggle

When trying to assess whether or not bankruptcy is right for you, consider the cause of your financial hardship. If you view the cause of this hardship as temporary, you need to think twice about taking this drastic step. However, if your financial problems are being caused by the loss of a job or ongoing medical problems, filing for bankruptcy is probably a good idea. 

If you are unsure about the route you should take to address your current financial problems, it may be time to schedule a consultation with an attorney. Once they hear the details of your situation, they can offer some advice regarding whether bankruptcy is a good idea. 

Problems Paying Your Mortgage

Owning a home is a dream most American adults have. When in the midst of a financial crisis, you may find it difficult to pay your existing mortgage. Rather than waiting until the house is foreclosed on, you need to take action and consider the possibility of filing for bankruptcy. With the help of a bankruptcy attorney, you can get your financial ducks in a row. If you do file for bankruptcy, you will need the help of a lawyer to ensure the paperwork is filled out correctly the first time around. 

Hedtke Law Group is Here to Help!

If you feel like filing for bankruptcy is the best way to address your current financial problems, contact the Hedtke Law Group today!

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