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Signs You May Want to Consider Filing Bankruptcy

Life and finances can be unpredictable and when circumstances add up it can leave people in a constant state of worry and a fear that they may never pay off their debts. For many people that are struggling with their finances, filing for bankruptcy is a tool that can be like hitting the reset button. Here are some of the top signs that you should consider filing for bankruptcy.

You’re Not Earning Enough To Cover Your Debts

If you find yourself in a position where you’re skipping certain monthly payments because you don’t have enough money to maintain them, it could be wise to file for bankruptcy instead. Accruing a series of late payments and extra charges on top of your interest can dig you deep in the hole with debts.

Your Vehicle is Under Threat of Repossession

You could actually hold onto your vehicle if it is your primary car to get to work in the event of a bankruptcy. If you’re facing the threat of a repossession, negotiating your debts or submitting a bankruptcy claim could be a wiser option.

You’re Facing a Foreclosure On Your Home

If you’re behind on monthly mortgage payments, filing for Chapter 13 bankruptcy is an excellent way to keep your home and access up to five years of restructuring for your mortgage payments.

You’re Receiving Ongoing Harassing Calls

If you’re receiving lawsuits and harassing calls from creditors, submitting a bankruptcy claim will qualify you for automatic stay which can prevent a chance that creditors and agencies can file lawsuits or contact you to repay your debts.

If you’re in any one of these positions please contact us today. We are skilled bankruptcy attorneys that can help guide you through the process of filing and building a better financial future.

This article was written by Alla Tenina. Alla is one of the best bankruptcy attorneys in Los Angeles California, and the founder of Tenina law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.

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