Many Floridian debtors may choose to enlist the assistance of a bankruptcy lawyer. An experienced bankruptcy lawyer will guide you through the complexities of the filing process, ensuring accuracy every step of the way. Fillers more often achieve the desired result when they seek professional legal assistance from a bankruptcy lawyer.
Serious financial distress usually builds over a long period of time as a result of spending habits, or more quickly as due to major setbacks like large medical expenses, divorce, or job loss. Once distress reaches a certain level of severity, a debtor should begin considering mitigation options, such as bankruptcy.
Signs that you may be heading toward bankruptcy
- Only make minimum monthly payments on overdue bills
- Credit cards are maxed out and debt is growing each month
- Using credit cards to pay everyday expenses like groceries, rent or utilities
- Paying overdraft fees each month
- Collection agencies are calling on a daily basis
- Creditors are suing and/or threatening to sue over over unpaid debts
- Inability to qualify for debt-relief programs like debt management or debt consolidation loans
- A job loss, divorce or medical setback has devastated personal finances
Bankruptcy should not be the first option for resolving debt, although if debt reaches a certain level of severity, it is a viable option for many people who are struggling with overwhelming debt.
When to seek assistance from a bankruptcy lawyer
As a general recommendation, if debt related problems can not be solved in less than five years, bankruptcy is a viable option. Hiring a bankruptcy lawyer gives individuals and businesses an advantage and increases the likelihood of a successful outcome.
Bankruptcy is an extremely complex subject, creditors want to be paid, and debtors simply do not have the financial resources for repayment. A bankruptcy lawyer will help defend your case, and provide assistance in navigation the filling process. Minor mistakes and inconsistencies made in the filling process are costly, and can lead to your claim being denied. These types of mistakes do not typically occur when using an attorney, but occur frequently for people filing on their own. That is why hiring an attorney has a much higher success rate than attempts to file on your own.
A bankruptcy lawyer will help you meet specific bankruptcy requirements and help ensure you are providing accurate information with the central goal of achieving an outcome that is in your favor. Contact a lawyer that specializes in bankruptcy claims if you are considering filing for bankruptcy.