Streamlining Your BankruptcyStreamlining Your Bankruptcy

About Me

Streamlining Your Bankruptcy

I knew that I had hit rock bottom financially when I started making credit card payments with other credit cards. Before I knew it, collectors were contacting me almost hourly, and it started to get really frustrating. I knew that I had to turn things around, which is why I decided to meet with a bankruptcy attorney. My lawyer took the time to listen to my troubles and walk me through the bankruptcy process. He made everything seem much more manageable, which really helped me out. This blog is here to educate other people about how much the right bankruptcy lawyer can help.

Is It Time For You To Consider Filing For Chapter 7 Bankruptcy?

If you have seen advertisements for bankruptcy attorneys, you might have found yourself wondering if filing for chapter 7 bankruptcy is something that you should consider doing. With the chapter 7 bankruptcy law, the majority, if not all, of your debts will be cleared. Some of the debts not included in this would be taxes owed to the government and things such as child support payments. To help you decide if you should contact an attorney to file chapter 7 on the rest of your debts, you will want to review the following information.

You Can't Catch Up Like The Creditors Want You To

You have probably tried to play catch up with your past due bills. However, if your best efforts are not seemingly good enough for your creditors, you might find that you are still dealing with the daily collection calls. If you are getting those calls every day from several different companies, it can become a little too much for many people to mentally and emotionally handle. The stress might just be a little too much to deal with.

You Can't Pay The Minimum Monthly Payments

If you are in a position where you cannot even afford to pay the bare minimum monthly payment, the past due balance for each of your debts is just going to get higher and higher. You could then end up with repossessions and a lot of negative marks on your credit report. If you are struggling, trying to figure out who to pay this month and who has to wait for another month or two to receive money from you, you might want to consider filing for bankruptcy. Once the bankruptcy process is finished, you will just be down to your basic monthly expenses, such as your utilities and car insurance payment.

The more you can relate to the financial problems mentioned above, the more likely it is that you would not only qualify for chapter 7 bankruptcy, but that you would really benefit from receiving that help from the courts. If you want more information about bankruptcy, you will want to call to schedule a consultation with a bankruptcy attorney in the county in which you reside. The attorney will be able to review your debt-to-income ratio to determine whether you qualify for chapter 7 and if you do, they can begin the filing for you once you pay their fee.