Most people want to pay their bills. When illness, a job loss, or some other factor makes that difficult, keeping up with debt also becomes difficult.
You might’ve taken on debt with every intention to repay it, but circumstances change. As lawyers at many of the bankruptcy law firms in Pasco County can attest, choosing to file for Chapter 7 or Chapter 13 bankruptcy might be the most practical way to deal with the situation.
Here are two signs that the time has come to schedule a consultation with a bankruptcy lawyer:
Creditors Aren’t Willing to Negotiate
One of the first things to try when dealing with debt is to negotiate with the creditors. Some may be willing to work out alternative payment plans. Others might be willing to settle a debt for less than the total amount owed.
These might be great options, but not all creditors are willing to offer them. What if none of the creditors are willing to work with the creditor and reach a mutually agreeable solution? When that’s the case, seeking bankruptcy protection may be the only real choice.
Sleep Doesn’t Come Easy These Days
Debt is not just about not having enough money to go around. It’s also about the impact on your personal health.
It’s not unusual for people struggling with debt to also be struggling with stress that keeps them awake at night. Over time, without sleep and with high levels of stress, your health will suffer. Filing for bankruptcy isn’t something you strive to do, but it’s one way to deal with a stressful financial situation and begin working toward a fresh start.
Personal bankruptcy is not always the solution, but it is the right one in many cases. Call one of the bankruptcy law firms in Pasco County today and arrange for a free consultation.
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