When to Consider a Bankruptcy Filing
There are few things as stressful as receiving a constant stream of collection calls and letters attempting to recover money that you owe for previous services or other unpaid debts. The cumulative toll of these measures can have a strikingly negative effect on your physical, emotional, and social health. Despite this, the impulse of many debt-laden individuals is to delay addressing the situation while convincing themselves that they have the knowledge, skills, and resources necessary to regain control of the situation. Unfortunately, this is rarely the case, and creditors often know and prey upon this to cast individuals further into debt.
If you are feeling besieged by your financial obligations and there does not appear to be an end in sight, it can be tempting to simply throw your hands in the air and to be completely consumed by the mess in which you find yourself. But it does not have to be this way. Contact the Birmingham bankruptcy lawyers of Greenway Law, L.L.C., at (205) 324-4000 to learn how we can help you get a fresh financial start.
Signs that Bankruptcy May Be the Right Choice
Creditors and cultural convention have been very effective at reinforcing the perception that people who file for bankruptcy are negligent or morally tainted in some way. This is simply not the case. In fact, the majority of personal bankruptcies are initiated in response to medical debts that are beyond the control of any person. Regardless of the circumstances that led to your current debt problems, you should not be made to feel as if there is no way out.
Some signs that bankruptcy may be the right choice for you are:
- You are consistently late in making payments
- The payments that you make are not for the agreed amounts
- You are struggling to pay for basic living expenses
- You are on the brink of foreclosure
Bankruptcy is not a cure-all for financial woes, but it is a powerful tool that can help you begin to repair the damage that has been done. Contact the Birmingham bankruptcy lawyers of Greenway Law, L.L.C., at (205) 324-4000 for more information.