The word “bankruptcy” is fraught with negative thoughts whenever it is mentioned. You never thought that you would file for bankruptcy until that day arrived. Some people may only realize that it is the only solution to their current financial woes when it is too late.
You can still reach out to an attorney even when unsure of the right steps to take. Here are some of the signs that you need to reach out to a personal bankruptcy attorney from the Law Offices of Scott R. Schneider.
1. High Credit Balance
A credit card is often seen as an option for financing a lifestyle, but should not be a long-term solution. One of the reasons why many people find themselves in credit card debt is the ease of settling the minimum balance in the first couple of months.
The problem occurs once you start to surpass the balance. The accumulation of such debt could make payment unrealistic, especially when you are in a tight financial spot. You know you are in deep trouble when you use a credit card to take care of your basic needs. When you find yourself in such a situation, it is time to reach an attorney.
2. You are Swimming in Unsecured Debt
A good number of people will go broke because of medical bills. Business-related or divorce debt will be subject to debt collection. You will need the services of a bankruptcy lawyer when you find yourself with a lot of unsecured debt, but no money or plan to repay your loans.
Chapter 7 bankruptcy can be life-changing, as it absolves you from the unsecured debt. While you can file for bankruptcy on your own, the process is be complex, and a small error could mean that the debt will not be discharged.
3. Your Income is Low
You could be gainfully employed, but still find it hard to pay off your debts while living comfortably at the same time. There are also unpredictable expenses to worry about when creditors are on your back. Sometimes filing for bankruptcy is the only way out of a financial mess.
You do not want to get money from your retirement savings. It is possible that you might not have a lot saved up for retirement, and digging into these funds will only make the situation worse.
4. Risk of Foreclosure
If you are at risk of losing your home or property, you must get in touch with a bankruptcy attorney. Once the bankruptcy petition has been filed, any collection attempts will be stopped immediately.
This could be the reprieve you need when creditors come after you with intimidation and scare tactics. A good attorney will prevent foreclosure by taking full advantage of Chapter 13 bankruptcy.
The Law Offices of Scott R. Schneider is here to help you. Contact us now and we will take care of everything for you, so that your financial worries are a thing of the past. From Chapter 7 Bankruptcy to Foreclosure Defense the Law Office of Scott R Schneider has helped many people just like you get back on their feet financially. What’s holding you back from reaching out? Give us a call at +1-516-262-6493 today! The Law Offices of Scott R. Schneider Serves the New York communities of Hicksville, Jericho, New Cassel, Bethpage, Levittown, Plainview, Westbury, East Meadow, Syosset, North Wantagh, North Bellmore, South Farmingdale, North Merrick, North Massapequa, Uniondale, Wantagh.
Better Business Bureau
Bankruptcy Practice Spotlight
If you are facing a possible foreclosure, I can take my two-plus decades of experience to help you save your house.
I understand how stressful the prospect of losing a house can be and am committed to working one-on- one with you to understand all details involved in your financial situation.