With scary financial headlines and worries over money, a lot of people are trying to find creative ways to stay on top of their finances. For some this could mean refinancing their home, asking for a mortgage loan modification, or downsizing from two to one car for their family. Another option is to file for bankruptcy, and this type of relief is available to just about everyone who is not able to meet their monthly obligations as they become due. That said, it is still understandable to have some hesitation and seek a few answers before making a final decision.
If you are wondering whether filing for bankruptcy is right for you, here are some factors to take into consideration:
• Whether you are able to pay all of your bills on time, or whether you are behind on some payments. If you cannot pay all of your bills and are getting collection calls or letters, filing bankruptcy will free up some of your disposable income so the purse strings are not as tight and will also put an end to the calls and letters.
• If you are being garnished, a bankruptcy filing will stop that process in its tracks. The same is true for a foreclosure. So if either of these factors is present in your situation, seeking relief through bankruptcy can provide an instant lift.
• If you have previously filed bankruptcy you will want to gain an understanding of what type of case you will now be allowed to file. The rules are a bit different for subsequent filings, and knowing what type of case you qualify for can help you to decide if you want to file a new case.
These questions, as well as those that are unique to your personal circumstances, can best be answered by a qualified bankruptcy and debt management attorney. We have experience helping people get out of debt, and can help you too. Whether you need to know the ins and outs of bankruptcy, or have questions about debt consolidation or just want to know the difference between the two, we can help. We understand it can be hard to make a decision about your money, especially when money is tight, and will take the time to answer all of your questions before proceeding on your behalf.
For more information about bankruptcy, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.