Bankruptcy Lawyer: Signs You Need To Seek Help

Consider some of the most important signs that you need to start looking for a bankruptcy attorney. Many people have money problems at some point, but not everyone is at risk of bankruptcy. Of course, it can be difficult to determine which category you fall into at times.

If you’ve had to buy an answering machine to start screening your calls, or have changed your phone number because bill collectors call so often, you should consider filing for bankruptcy. Having to dodge creditors multiple times a day can be extremely stressful and inconvenient as well, especially if you have changed your number multiple times due to this issue. Talking to creditors often doesn’t help and can only add to the stress level in most cases. If you are fed up with this situation, you should think about getting a lawyer to represent you to get rid of your debt. Once you apply, creditors and collection agencies have to stop calling you, at least temporarily.

The main reasons for going down this path are often excessive medical bills, sometimes costing millions of thousands of dollars, and job loss. None of these situations can be easy to get out of. It’s hard to catch up on bills when you’ve been out of work for months or even years, as bills are added to your life with each passing day without any income to pay them. Most people also can’t come up with enough cash to pay their medical bills, and payments are likely to continue for life if they can be worked out. Therefore, you might consider hiring a bankruptcy attorney to help you determine your options for becoming debt free.

If you don’t have a lot of assets to repossess, and you don’t plan to buy any in the near future, this may be a good route for you. This is because your assets may be sold to help pay your creditors, so you will need to be prepared to lose them in bankruptcy. Also, your credit will be damaged enough that you won’t be able to buy a house for several years unless you want to pay a lot of money in interest. So if you plan to rent for years and don’t have a lot of assets, you may want to find a lawyer.

This route is not for everyone, but if it turns out to be the best one for you, it is advisable to hire a qualified bankruptcy attorney to represent you. This will take most of the stress out of the process. In fact, you’ll likely feel a sense of relief afterward as well, since creditors won’t be contacting you constantly anymore.