No one wants to file for bankruptcy, but there may come a time in your life when you have no choice but to consider it. As complex as the process may be, once it’s in the past, you’ll look back and realize you made the best possible decision.
There are a variety of circumstances that can point you toward bankruptcy in Alexandria, including the following:
- Wage garnishment: With this, a creditor obtains a court order to garnish your wages. This money goes directly to your creditor, so your paycheck will be smaller.
- You can’t keep up with your bills: This could happen for many reasons, such as an ever-increasing debt load, job loss, pay cut or a serious illness. If you’re unable to pay all your bills, you have a few options. While cutting back on expenses is something to consider, you may find that bankruptcy is the only way to dig yourself out of serious debt.
- You’ve received a foreclosure notice: If you fall behind on mortgage payments, your lender will eventually send you a foreclosure notice by mail. This isn’t something you should put aside. It requires your immediate attention, as ignoring it could result in losing your home in the near future. With bankruptcy, the automatic stay halts the foreclosure process, thus giving you enough time to figure things out.
- You continually hear from debt collectors: As soon as you fall behind on payments, you can expect to hear from debt collectors. They’ll send letters, make phone calls and may even decide to file a lawsuit against you. Upon filing a bankruptcy petition, an automatic stay will protect you against creditors.
If one or more of these signs has entered your life, don’t wait to learn more about Chapter 7 and Chapter 13 bankruptcy. You may find that this is the best way to discharge or reorganize your debt. Once you learn more about the process and your legal rights, you can proceed with confidence.
Disclaimer – Attorney Advertising. Under Federal Law, we have been designated a Debt Relief Agency and we help people file for bankruptcy relief under the Bankruptcy Code. This information is not intended as legal advice and no attorney-client relationship is created. Results may vary. Results not guaranteed. Dramatization – not actual clients in pictures and videos. Thomas C. McBride, attorney in Alexandria, LA.