There is no set formula for determining when bankruptcy is right for you. A full evaluation of your current situation and options must first be made before the decision to file for bankruptcy should be made.
Some factors that may help decide if bankruptcy is the right choice for you:
- The inability to navigate your way out of debt in less than five years.
- Receiving notices that your loans or mortgage will be foreclosed.
- Having only the ability to make minimum payments on your bills.
- Using more debt as a means to cover other costs that you cannot currently afford.
- And generally, any major financial setback that appears insurmountable.
If you feel that these factors accurately describe your current circumstances, please contact one of our experienced bankruptcy attorneys to help you through your tough financial times. Bankruptcy will not get rid of all your debts but still allows you to make a fresh start.
Call or email Gary Ponti for more information or help regarding your current financial situation.