3 Signs You May Benefit from Speaking with a Bankruptcy Attorney
The first step is always the hardest, that’s what they say isn’t it? Whomever ‘they’ may be, I think it is some pretty poignant advice. One of the most common questions I receive falls along the line of how to know when it is time to pursue bankruptcy.
There are a very lucky few that never face financial troubles. In today’s society, money is a common cause of stress. However, knowing when your financial problems have escalated from manageable to a point of needing outside
As a Phoenix bankruptcy attorney, I have valuable experience analyzing financial portfolios to determine potential means to rectify and shortcomings. However, deciding whether or not to file for bankruptcy protection is a personal decision – one that I cannot possibly make for you.
What I can do is share 3 important signs that may influence your decision to file for bankruptcy protection.
- You Cannot Afford to Pay Your Monthly Bills: Being in the red each month should raise a huge red flag that your financial problems should not be overlooked. However, it doesn’t mean that you are destined to file for bankruptcy protection. Get out the scissors and start trimming away unnecessary expenses. If you are unable to get back in the green, filing for bankruptcy may be a good option for you.
- You Cannot Afford to Pay Down your Unsecured Debt: Far too many people are currently trying to pay off their debt, but are only able to keep up with the accumulating interest. If you cannot afford to pay down your principal balance, paying off your debt will be pretty darn difficult. In this case, bankruptcy is likely the most efficient way to eliminate debt and obtain a financial fresh start.
- Money is Causing Undue Stress at Home or Work: In a recent survey by the American Psychological Association (APA), money was reported as the number one cause of stress in America today. While bankruptcy is not the solution to all financial stress, it is important to remember that bankruptcy is an option for those facing extreme financial anxiety.
If you are considering filing for bankruptcy protection, it is important that you consult with an experienced bankruptcy attorney in your state. If you currently reside in Arizona, I am a Phoenix bankruptcy attorney that offers free consultations to all potential bankruptcy debtors. While I cannot make the decision to file bankruptcy for you, I can provide certain tools that will make your decision easier.