When Should You Consider Talking to a Bankruptcy Lawyer

When Should You Consider Talking to a Bankruptcy Lawyer
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Overwhelming Debt 

It is quite common for people to live beyond their means. Living beyond your means comes about when your debt every month exceeds your monthly income; you are in trouble financially. This situation creates a struggle every day with high-interest rates, late fees, checking account overdraft fees, possible foreclosures, repossessions, wage garnishments, a levy on your banking account, and no end to collection calls.

Some overwhelming debt can come about due to other problems, such as mounting medical bills, job losses, divorce, injuries, business failures, mortgage crisis.

If you are to the point that you want to list all debt individually, put all liability into a paper bag, shake up the bag, and whomever you draw out gets paid first? It may be time to call a Bankruptcy Attorney. This professional has a better way.

Consider Your Unique Situation And Your Best Debt Relief Solution

No matter what the reason is that threw you into immense debt, you must communicate with your creditors and let them know you are having a hardship and want to pay them but cannot. Overwhelming debt means that it is time to do an overhaul of your expenses and make some changes. It would be best if you prioritize your debts, for instance,

  • Rent or mortgage is the number one payment every month. Being overwhelmingly in debt means you may have to sell an expensive home or car and repurchase a lesser experience. Check into a reverse mortgage or a modification of your mortgage.
  • Car payment
  • Insurances (Insurances go up and down like the stock market. Frequently check for lower insurance rates.
  • Utilities (energy, water, waste disposal, landlines)
  • Cell phone
  • Insurances (car, house, life)
  • Utilities (heating, cooling, electricity, gas)
  • Cell phone bills and on down the line.
  • Everything else

Time to Call a Bankruptcy Attorney

Your situation is unlike anyone else and is unique to you. Despite doing all you can to lower your debt, you still need to consider filing  Bankruptcy. Contact a seasoned, experienced Bankruptcy Lawyer. This professional knows how to navigate the judicial system and help you in the best way possible.

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Bankruptcy Lawyers deal with creditors every day and can give you the honest answers you need to get out of debt. Creditor calls every week wear on your last nerve, causes depression, and ruins family relationships. It does help to communicate with creditors. However, the creditor pushes hard to have you make auto payments. Never give a creditor charge over your income. Avoid auto payments for any creditor, including your mortgage and car payment. Be sure to pay your priority bills on time every month. Make other debt payments when you have extra money.

Bankruptcy helps to keep creditors from harassing you. The bankruptcy lawyer helps you to keep your assets and have most debts forgiven. This attorney files your Bankruptcy correctly to avoid unresolved liabilities, hidden fees, and unexpected expenses.
Bankruptcy offers you the financial freedom you yearn, for yourself and your family. Your attorney advises you on which way to file your Bankruptcy, Chapter 7, or Chapter 13. Your attorney explains the difference between the two. Your attorney remains by your side throughout your Bankruptcy experience.

There are some things that you cannot declare Bankruptcy, such as your mortgage, student loans, alimony, child support, tax liens,  debts paid to persons for personal injury or death, and items you failed to list in your Bankruptcy. Bankruptcy is not the answer for everyone, but it may be the right decision for you and put you in the right direction financially. Only your attorney can tell you. If you do not have the money you need every month to pay all your debt, Bankruptcy may be the answer. Your lawyer initiates a stay provision sent to creditors, meaning that creditors can no longer call you and harass you about payments. This stay stops these calls.

  • Bankruptcy helps to eliminate your debt
  • Stops civil lawsuits
  • Stops creditor harassment
  • Stops garnishments of your wages
  • Stops foreclosures
  • Stops car repossessions

Your Responsibility is to Develop Sound Financial Decisions

Bankruptcy relieves you from most debt and is glorious freedom. After your Bankruptcy, it is of vital importance that you pay your bills on time. Your credit report takes a hit of 150-200 points downward, and the Bankruptcy remains on your report for eight to ten years. You can gradually raise your FICO score by paying bills on time. Building your score does not happen overnight; it takes time. It is an excellent idea to review your credit report at least every three months.

Call a Bankruptcy Attorney Today

Your first step is to contact a seasoned, licensed, experienced Bankruptcy Attorney for a free consultation. The areas served by this FCW Law Firm attorney are areas throughout central and southwestern Ohio, Columbus, Dayton, and Cincinnati, Ohio. There is hope for your debt. Allow us to review your income and your debts and help you out of this bad situation.

We can review all the criteria to file Bankruptcy and formulate an individual plan for you to get out of debt to realize financial freedom. Be sure to speak with your lawyer about your mortgage and your car loans. Your lawyer may be able to negotiate a new loan, thus lowering your payments. Your trust is to pay your mortgage on time every month. Bankruptcy may require you to get credit counseling.

Time is of the essence when you decide to declare Bankruptcy. Call your attorney as soon as possible if you face the garnishment of your wages, foreclosures, repossessions, relentless calls from creditors, and feel that there is no hope.

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