Signs That Bankruptcy May Be Right for You
Everyone who struggles with debt considers bankruptcy at one point, and everyone who files for bankruptcy does so at a different point in the process. While there is no right answer about the best time to file for bankruptcy, there are some important financial warning signs that you should look out for.
At AZBK Lawyers we can help you watch out for these warning signs and decide whether or not bankruptcy is right for you. Ben Wright has helped clients facing all types of concerns. Whether you need to put an immediate stop to foreclosure or find a way to pay off your medical debt, our firm is ready to help you.
Should You Consider Bankruptcy?
At our offices, we always consider the rule of bankruptcy inevitability. If your unsecured debt is equal to your net annual income, you are most likely going to file for Chapter 7 bankruptcy eventually. You may be able to borrow enough money from someone you know to pay off your credit card and catch up on your child support, but those stories are few and far between.
Other people want to try and negotiate with their creditors. This can be the most frustrating thing of all, because you need all your creditors to comply in order to come up with a plan. If one creditor is unwilling to help, you will still have a problem. There are also hidden tax consequences to negotiating an unsecured debt.
There is good news though. The chances are good that you qualify for Chapter 7 bankruptcy, which will provide you with the immediate relief you deserve. With an experienced lawyer on your side, you can recognize the warning signs and avoid the potential pitfalls of bankruptcy alternatives.
Free Initial Consultation
Whether you see obvious warning signs or you are worried that you just have a bad feeling about your debt, we can help you find solutions that will bring you relief. Located in Phoenix, we help clients across Arizona. Call (602) 648-3274 or contact us online today to schedule a free initial consultation.
We are a debt relief agency. We help individuals and businesses file for bankruptcy relief under the Bankruptcy Code.