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Honey, it’s Time to File for Bankruptcy

If you’re spending too much time dealing with harassing creditors, dodging their phone calls and fending off their advances, it’s time you take a serious look at bankruptcy. It could be time for a fresh start.

Many Americans consider bankruptcy to be embarrassing–perhaps a sign of weakness, failure, or even immorality.  However, you should know that medical expenses, not poor financial planning, has been proven to cause 62% of bankruptcy filings.  Other times, bankruptcy results from losing a job, reduction of overtime pay or sometimes mistakes in handling money.  Whatever the reason you find yourself in debt, it doesn’t matter. It really can happen to anyone.

So, how do you know if it’s time to file for bankruptcy?  The answer is when filing will provide a preferable way of life to the way you are living right now.  If you are scrambling every month to make ends meet, juggling funds, trying to stretch them, and engaging in a Russian roulette process of picking which bills to pay this month, these may indicate a need to file for bankruptcy. It may be time if:

•       You make only minimum payments on your credit cards

•       Bill collectors frequently harass you

•       Your finances make you feel scared and out of control

•       You use credit cards to pay for necessities

If you answered yes to many of these questions, and if you owe more than you can afford to pay, then bankruptcy may be a way to get a fresh start.

The law, in the form of the Bankruptcy Code, has set up a method for allowing people who qualify for bankruptcy to legally ease the burdens of their financial obligations. The Code has set up legal procedures which are followed to lead to the results you want—liquidation of most of your debts or a plan to pay them off over time.

In contrast to the way of life you have been living, bankruptcy can allow you a reliable and predictable way to manage your creditors and your money.  Contacting an experienced Charlottesville bankruptcy attorney today will help you make a fresh start.

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