A lot of consumers find themselves living paycheck to paycheck. If the situation is temporary, there is no need to consider bankruptcy. But, if you find yourself falling deeper into debt and having little funds to survive on, bankruptcy may be the answer. If you feel you’re in a dire financial situation, it may be time to consider bankruptcy.
Here are a few ways to tell it’s time to throw in that towel and get started.
You’re Taking on Second and Third Jobs to Pay Your Bills
If you have two or three jobs just to pay your bills and you’re not making headway on your debts, it is time to consider bankruptcy. Paying only the minimums will not get you out of debt and could mean repaying thousands more than originally owed.
Lenders are Not Willing to Work With You
While it is true lenders and creditors want their money, there are times they are just not willing to negotiate. In foreclosures, for example, some lenders feel it is better to seize the property rather than negotiate with the homeowner. When it comes to credit cards, creditors may not be willing to forgive late payments or lower interest rates, leaving you no way to repay the debt or even catch up on past due payments.
You’re Facing Foreclosure or Repossession
You’re behind on mortgage or car payments and now you are facing repossession. Bankruptcy may help you keep your home and even your car by renegotiating the terms and creating a repayment plan that helps you catch back up on the loan.
You Are Being Harassed by Creditors
Creditors are relentless, especially third party debt collectors. They will attempt to squeeze money out of a person that doesn’t even have a penny to their name, and some will even threaten with illegal actions just to get them to pay. If you are suffering from creditor and collector harassment, bankruptcy can help. It will cease all collection efforts and any creditor that violates your Automatic Stay from the courts will be fined, and could have additional legal action taken against them.
Get a Consultation with a Skilled Florida Bankruptcy Attorney
If you think it’s time to file bankruptcy, meet with the Florida bankruptcy lawyers at the Law Office of Kelley & Fulton today. We can assess your case, help you decide which method of bankruptcy is right for you and help you get a fresh financial start. Call now for a no obligation consultation by dialing 561-491-1200.