5 Signs That Filing for Bankruptcy Could Give you the Fresh Start You Need

Many people experience going into debt in their lifetimes. Whether it’s medical debt, student loan debt, or credit card debt, we all go through it. Sometimes our debt is temporary, or we pay it off, but other times it continues to grow. Seeing that number get larger is overwhelming and stressful. Sometimes, it feels like no matter how much we pay off, it’s never enough. If you feel like this never-ending cycle of debt and making payments is taking over your life, it might be time to consider other ways of finding debt relief. One way you can do that is through bankruptcy and an attorney who knows bankruptcy law in Delray Beach. You don’t need to make a decision right away, but knowing the following five signs can help you decide what to do.


You Spent All of Your Savings

When the going gets tough, we sometimes have to resort to other ways of getting by. And if you recently lost your job or had other life-altering events occur, you might have had to dip into your savings. Whether this savings was for your children’s college education or retirement, it happens from time to time. But usually, there’s a limit of how much we need, and we can bounce back. However, if you find yourself spending all of your savings and depleting your money, then it could be a sign that bankruptcy could benefit you.


You’re Behind on Bills

Missing the occasional bill payment isn’t the end of the world. Chances are that the company or landlord you pay will understand you made a mistake or are going through a rough patch. But when it becomes a habit, you might begin to make some people angry. These people might also stop giving you second chances. The first thing you want to do is evaluate why you are behind on bills. Is it overspending or a general lack of income or money? If you don’t have any money or enough money, it may be time to consider other options. We recommend getting in front of the trouble before doing what some do, turning to loans to pay for bills.


You Avoid Phone Calls or Your Mail

The more debt you have, the more mail and phone calls you will accumulate. The debt collectors and creditors are going to want their money. And these people are aggressive, not stopping at anything to get it, whether that means calling you multiple times a day or sending you mail every week. If you have found yourself avoiding opening the mail or answering your phone, it could be a sign that you know you’re in trouble. However, dealing with debt head-on is the best way to go. Whether that’s filing for bankruptcy or seeking a bankruptcy attorney with expertise in bankruptcy law in Delray Beach, it’s better to stop the debt from mounting further.


Your Credit Cards Are Maxed Out

If your credit cards are maxed out, it may be time to think about bankruptcy and speaking to an attorney that works in bankruptcy law in Delray Beach. Sometimes bankruptcy is the answer to our debt problems. While this doesn’t mean pressing reset to get back into debt, it does mean getting a fresh start. Maxed-out credit cards not only ruin your credit but can cost you tons of money in interest fees. This situation is even more so the case if you have maxed out multiple credit cards.


You’re Always Stressed Out About Money

Everyone gets stressed out about money from time to time. Whether it’s because we have an expense to pay or went a little over our monthly budget, it happens. But money struggles are usually temporary and serve as a learning lesson. However, being stressed about money 24/7 is problematic. Money problems should not seem to haunt you or make everyday life hard for you. If this is your case, filing for bankruptcy may be a good option for you. Consider speaking with a bankruptcy lawyer soon if this sounds like something you are dealing with.


We Can Help!

Do any of these signs point to you and your situation? If so, you may be able to benefit from bankruptcy and an attorney with expertise in bankruptcy law in Delray Beach. To learn more about bankruptcy, click here (https://www.mufsonlaw.com/Bankruptcy/)  we have all the information you need on our website. Or, you can call our team today at (561) 272-1003. We look forward to helping you!