When you were graduating from college you never dreamt that some 30 years later you would be filing for bankruptcy.
When you started your first job and the company was purchased, you were focused on what these changes would do for you and your wife. You made plans for a much larger home, a dream vacation to Greece, and new cars. Bankruptcy was never part of your thoughts.
Unfortunately, overextending yourself on credit crds and literally living paycheck to paycheck has taken its toll. The house has been listed for sale for four months already, but the market is not working in your favor. At the price level where your house falls, most buyers would rather invest in a custom new home instead of the dated one that you are offering. And while your home is in a great neighborhood with the best local schools, the fact that there are still some empty lots in the subdivision has lost you some buyers. And the fact that you have spent more money on family vacations than home maintenance leaves many buyers offering for homes that will require less work.
Have Financial Difficulties Led to the Need for a Low Cost Bankruptcy Attorney?
If you are someone who is looking to find debt relief you may realize that your best option is in talking to an experienced bankruptcy law firm. In almost all cases, these conversations are better if they happen sooner rather than later.
Unfortunately, if you find yourself looking for advice about a bankruptcy filing you are not alone. In a time when the cost of living continues to climb while wages remain stagnant, in fact, there are many who find themselves victims of high interest rates and unable to meet the monthly expenses that they need to meet. Others who are looking for relief that might be available from a bankruptcy lawyer are doing so because they have faced a difficult personal emergency. Sometimes caused by a medical situation that takes a turn for the worst, sometimes caused by a job loss, there are many Americans who realize that their financial situation reaches the point of no return. If, for instance, you do not have a six month cash reserve and are living from one check to another a sudden job loss can be financially devastating.
Getting the advice a reputable and experienced bankruptcy attorney allows you to find the solutions that you may need to help you remove today’s stresses and start rebuilding to tomorrow’s future.
Consider some of these facts and figures about the many people and businesses who face financial problems during these difficult times:
- Although numbers can vary from one sate to the next, in Texas, Chapter 13 filing often costs less than $500 to begin a case.
- Bankruptcies resulting from unpaid medical bills affected an estimated 2 million people in the U.S. during the year 2013 alone.
- During 2013 there were a total of 8,980 Chapter 11 bankruptcies filed in the U.S.
- During 2013 there were a total of 333,626 Chapter 13 bankruptcies filed in the U.S.
- A Chapter 7 bankruptcy takes approximately six months to complete.
- A Chapter 7 bankruptcy stays on a persons credit report for 10 years after it is initially arranged.
There are many difficult challenges in life, but if you as an individual, as a couple, or as a business owner are facing the possibility of filing for bankruptcy then you likely understand the challenges that come with this kind of decision. Finding the legal help that you need sooner rather than later, however, will allow you to more quickly find some kind of solution. There are, of course, ramifications that come with any decision to file for bankruptcy, but there are families who feel that they have no other real options. And while no one wants to admit defeat when it comes to dealing with a financial situation, it is important to realize that there are processes available that can help you manage even the most difficult of situations. Working with a knowledgeable attorney or financial adviser can help you understand the amiable options and navigate the
future decisions that you will have to face either individually, as a couple, or professionally.