You are probably aware that a Chapter 7 or Chapter 13 bankruptcy can provide you debt relief, but do you know when you should file your case? There is no magic trick for finding the perfect time to file your case, but there are certain instances where you should consider meeting with an attorney.
When Is the Right Time to Speak with an Attorney About Bankruptcy?
- You are past due on your mortgage and foreclosure is being threatened
- Creditors are seizing your vehicles or other assets
- Your bank account or wages are being garnished
- Collection lawsuits have been filed against you
- You are being harassed by debt collectors
- You have substantial unsecured debt, such as credit card or medical bills
- You are delinquent on your taxes
- Excluding your mortgage or vehicle loans, you will not be able to pay your total debt within five years
The above list is not exhaustive. There are a wide variety of circumstances that can warrant seeking bankruptcy protection. If you are feeling overwhelmed by your debt or the stress is starting to negatively impact your health, it is time to seek help. Meeting with a lawyer to understand your debt relief options does not mean you have to file a bankruptcy case.
Faro & Crowder, Pa Providing Debt Relief and Bankruptcy Services to Brevard County
We understand deciding to file a bankruptcy petition is difficult, whether you are considering Chapter 7 or Chapter 13. Let us review your individual finances and help you understand the best strategy for improving your financial situation. Contact the attorneys at Faro & Crowder, PA, for a free initial consultation. Our offices are located in Cocoa and Melbourne, FL.
The information on this blog or any blog is not intended as, and should not be taken as, legal advice.