When should I speak with a bankruptcy attorney?

Many people struggle for years, wasting thousands of dollars and depriving themselves unnecessarily of money they really need for basic living expenses because they stubbornly refuse to consider all of their options.

Often, people want to know when they should consider filing bankruptcy.

Of course, the answer is simple.

If you’re worried about your finances because you’re not getting ahead as fast as you think you should be, or worse, falling behind, then you need to consider all of your options NOW.

The best place to start is with your budget.

Look at your income and look at your expenses.

(I know this is no fun, but neither is stressing out over your finances all the time – you need to sit down and write this out and really look at it!  That’s how to begin the process of solving your problem, and soon you’ll be less stressed, and much happier.)

If you find yourself short of cash most paydays, then it doesn’t make any sense to consider anything short of bankruptcy. There’s no way you can afford a payment plan with your creditors in any kind of debt management program if there’s no money to make the payment.

Good news!

I can often find ways to lower payments while keeping cars and other property the people are paying either too much four or paying an interest rate that is more than the 6% that I can obtain for them in a bankruptcy.

If you honestly look at your budget and see that you are not going to be able to pay off all of your debt in the next one to three years, then it’s time to speak with a bankruptcy attorney.