How Do I Know if Bankruptcy Is Right for Me?

Most of us don’t want to choose bankruptcy if we can avoid it. Getting into serious debt is both frustrating and difficult to recover from, but you might not be clear when your debt is serious enough to warrant bankruptcy. You need answers to one question: How do I know if bankruptcy is right for me?

If you’re not sure if you should file for bankruptcy, speak to a bankruptcy lawyer from Rowdy G. Williams Law Firm. They can review your case and what filing for bankruptcy will do for you. If you’re struggling with debts, you’ll need someone who can tell you whether bankruptcy is best for you.

Your Debt Is Overwhelming

Sometimes, you’ve gotten into such serious debt that you’re unable to pay it back. The income you have isn’t enough to settle the debts you have, and in some cases, you might be getting into more debt to keep your home and standard of living.

Unfortunately, this can be overwhelming, and you might need some way to remove that debt quickly. In these cases, you might seek out Chapter 7 bankruptcy to wipe your debts away through the liquidation of your assets. A repayment plan may be appropriate in some cases, but when you’re unable to get out of debt on your own, speak to a lawyer about your debts for help choosing a bankruptcy plan.

Creditors Are Harassing You

Sometimes, you might be feeling the pressure of your debt because you’re being harassed by creditors who expect repayment now. When you’re not able to pay your debts quickly, they may continuously remind you of your debt, sending letters, calling you, and perhaps even showing up at your home or workplace.

Filing for bankruptcy can help. When you file, your creditors will receive notice and will be repaid through the plan you choose. This may be through the selling of your assets, or you may choose to pay your creditors back over three to five years. Any plan you choose should end these calls.

If you’re concerned about your debts and the creditors’ actions, contact a lawyer about your rights as a debtor and the level of contact your creditors are making. In some cases, they may be illegally harassing you, which your lawyer can help end. When your debt is this serious, you’ll need a lawyer to stop the calls and help you plan for your bankruptcy filing.

Ask a Bankruptcy Lawyer for Help

When you’re dealing with debt, it can be difficult to determine when you’re in enough debt to justify bankruptcy. You may have trouble with the creditors, and you may be concerned about how you’ll cover your debts, but you may not know when bankruptcy is the answer.

Call a lawyer from Rowdy G. Williams Law Firm if you’re asking, “How do I know if bankruptcy is right for me?” We can answer your questions, review your debt, and help you make a plan for erasing your debts. If you’re considering bankruptcy, call to consult with a bankruptcy attorney at 1-812-232-7400, or fill out the online form below.