Bankruptcy Advice Hotline (888) 734-2585
Looking for bankruptcy advice? This is the place. For most of us “collection,” “bills,” “debts,” “interest,” “mortgage,” and “past-due” are words or phrases that instantly raise our blood pressure. Nearly everyone has debt, and many of us fall behind from time to time. We may accidentally miss a payment here and there, or occasionally do some serious juggling to keep the lights on and the house up to date. Not everyone needs an attorney. Nobody wakes up out of bed and says, “Today is the day I finally ask for bankruptcy advice.” Recognizing when it is time to ask for help is difficult, because we are used to worrying about money. On the other hand, we almost all believe that we will be able to pay off our debts, sooner or later.
It is important for you and your family to have a handle on your financial situation. Your health, sanity, and relationships depend on financial stability as much as any other factor like employment satisfaction or emotional stability. So how do you know when you are in real trouble?
Do your Monthly Expenses exceed your Monthly Income?
One tell-tale sign of impending financial disaster is not being able to meet your monthly expenses. If you are constantly asking yourself where the money went, using your credit cards for meals, gas, or other essentials (and not paying off the balance), or – in extreme cases – visiting the payday loan store to get by, it is time to take a long, hard look at your budget.
Figure out what you take home on a monthly basis, and subtract what you spend for necessities such as rent or mortgage, utilities, food, child care, and all debt payments.
- Do you spend more than you make?
- Have you removed all luxuries from the budget and still can’t make the ends meet?
- Are you sacrificing on essentials like utilities, food or medical and dental care to make a minimum payment on a credit card or pay for car, furniture or other secured debt you don’t need and can’t afford?
- Are you scraping to pay the minimums on your credit cards?
- Would it be impossible for you to pay off your credit cards in just a few months?
- Are your monthly debt payments stopping you from living more comfortably and with less stress?
A tight budget is the earliest sign that you need help. The later signs are collection calls, lawsuits, wage garnishments, and levies on your bank account. Garnishments and levies will make a stressful situation seem impossible. If you were struggling with your debts before, then the forced payment of your debts via court order could send you into a financial free-fall. A person struggling financially, but barely keeping up with the mortgage, will find that essential payment impossible once the bank account has been frozen or wages are being garnished. But, by paying attention to the early warning signs, you can take action before the worst occurs.
Bankruptcy Advice Hotline (888) 734-2585
Are You Receiving Collection Calls, Lawsuit Notices, Levies, or Garnishments?
When you fall behind on certain debts, such as medical bills and credit cards, the phone calls start. Eventually, these past due accounts are turned over to collection agencies, then to collections attorneys. When the collection calls start, it is time to seek advice on how to stop the onslaught. Without resolution, these debts can spiral out of control and seriously impact your life. Certain collection methods commonly used by collection agencies are in violation of federal law. A competent attorney can advise you of your rights and help you stop these activities. You may also need advice on how to handle pending lawsuits for collection, foreclosure or repossession.
Have You Experienced a Sudden Life Change, Job Loss, Accident, or Illness?
Sometimes we are keeping things together and handling our obligations just fine when a change in circumstances makes it impossible to keep the financial balance going. For example, if you have just returned to work from a long lay-off or illness, and find that you are behind on your mortgage or car payments and can’t catch up. An attorney may be able to help you save these important assets from foreclosure or repossession. In order to know all your options, consider bankruptcy only after you have already spoken with someone about other Debt Relief options without the need for the court’s protection. The Debt Relief Helpline is 888-790-1337.
The key is to take control of your finances before they take control of you. Assess your budget. You should understand how much your outstanding debt is costing you and devise a plan to pay it off. If you suspect it is more than you can handle, seek professional help to get control of the situation. If you find your expenses are exceeding your income, it may be time to seek professional, legal assistance.
Bankruptcy Debt Relief
These are a few areas that you can start with to improve your financial outlook. If you can avoid some or all of these pitfalls it can lead to financial freedom. If you are in debt and would like to find out more about the legal options available to you, call the Free Bankruptcy Advice Hotline.
Whether you have just one question or 100, the Bankruptcy Advice Hotline can help. You’ll speak directly with a caring attorney who specializes in bankruptcy. You’ll learn whether you qualify for protection from your creditors, and what to expect if you file.
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By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.