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Signs You May Want to Consider Filing Bankruptcy

Published September 17, 2020 by Sasser Law Firm
5 Signs You May Want to Consider Filing Bankruptcy

Life can be unpredictable. Unfortunate circumstances can leave people worrying every day if they will ever be able to pay off their debts. Many people struggling to make ends meet likely exhausted their savings and fear losing their homes. Others are afraid to answer their phone, dreading creditors or collection agencies are calling to ask about overdue bills.

If you can relate to one or more of these situations, you may wonder how to know if you should file bankruptcy.

Here are five signs that may help you decide if you should consider talking with a bankruptcy attorney.

  1. Your vehicle is threatened with repossession.
  2. You are not making enough money to pay your debts. You may also find yourself in the unfortunate situation where you have to skip a minimum monthly payment because you don’t have enough money to make all your payments. This is a stressful situation because you will then be charged late fees in addition to the interest. You may even be charged interest on the late fees. All this can dig you even deeper in the hole.
  3. IRS or NC Department of Revenue is threatening to seize your bank account, wages, or other assets.
  4. You receive lawsuits and phone calls from creditors. If you receive lawsuits, judgment executions, or frequent calls from creditors or collection agencies, you may want to consider contacting a bankruptcy attorney.
  5. You are facing foreclosure on your home. If you are behind on your monthly mortgage payments. A chapter 13 bankruptcy is an option that provides up to five years to bring current delinquent payments and restructure other debts.

Talk to a Bankruptcy Attorney Today

At the Sasser Law firm in North Carolina, we want to help you get out of debt and regain control your financial future. Our bankruptcy lawyers have extensive experience and have handled thousands of Chapter 7, Chapter 11, and Chapter 13 bankruptcy cases.

When you work with the Sasser Law Firm, you will work directly with one of our lawyers. We take the time to help you learn the options and processes for filing for bankruptcy. There is no fine print, no pressure, and no fees until you decide to file. Call us today for a free consultation.

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