Sinking into debt comes with a wave of emotions. You may feel stressed out, disappointed in yourself, and lost. But, you don’t need to live with your debt looming over you. There is a chance at a fresh start when you file for bankruptcy. Filing for bankruptcy may feel like admitting defeat; however, sometimes, it’s the best option. There is no shame in needing a fresh start. Thousands of people file for bankruptcy in Delray Beach every year. With the help of an experienced attorney from The Law Offices of John E. Mufson, you can get through your bankruptcy and get the fresh start you want. If you aren’t sure if filing for bankruptcy is the option for you, keep reading. Our team lays out three scenarios where filing for bankruptcy can prove helpful.
Your Credit Card Pays for Your Necessities
One situation where bankruptcy may be a good idea is if you find yourself paying for necessities with your credit card. By necessities, we mean shelter, food, water, and medicine. These are items you should be able to pay for no matter what. If you can pay for these with some money left over, you may not need to file. But, if you cannot afford to pay for these items and are racking up more debt, filing bankruptcy in Delray Beach may help. When you file bankruptcy, all of your debt, except for student loan debt, is cleared. You can have a fresh start and put all of your money towards necessities, instead of debt. When you have crippling debt, it’s hard to get out. And even more difficult to avoid racking up more debt.
You Don’t Know How Much You Owe
Racking up debt in the form of health care, student loans, or credit cards may be easy to keep track of. However, after some time, you may lose track of your debt. This scenario is even more true if you have multiple streams of debt. For example, if you have credit card debt and healthcare debt. Staying on top of your debt is vital as it helps you make payments on time and plan. Getting in front of debt is hard, but once you start to pay it down, things get easier. However, you can only do that if you know how much you owe. If you find yourself constantly forgetting how much money you need to pay, it may be time to consider other options. Debt racks up quickly, and interest rates do not help. The more you drown in it and struggle to stay on top of it, the worst it gets. Sometimes filing bankruptcy in Delray Beach allows you to start fresh. Or, if you have student loan debt along with other debt, it gives you a chance to focus on one loan.
Bill Collectors are Calling You
Last but not least, if bill collectors are always calling you, it may be a sign to consider bankruptcy. This sign isn’t tell-tall; but, if it’s happening along with one of the other, it’s time to file for bankruptcy. If the bill collectors are calling you over one form of debt, maybe you don’t need to take that step yet. However, the best way to determine what your best move is to contact an attorney. A bankruptcy attorney can help you figure out a game plan and if bankruptcy is right for you. Chances are that if one or two of these signs are occurring, it may be that time. But the only way to know for sure is to have an attorney evaluate your unique situation.
Contact Us Today!
To get a free consultation regarding your debt situation, reach out to The Law Offices of John D. Mufson team today at (561) 272-1003. Or, go on our website and fill out the contact form. A member of our team will be in contact with you as soon as possible. You may not need to file for bankruptcy, but having an attorney’s opinion can help you game plan for the future.