Many people struggle with debt for months upon months, even years, before seriously considering bankruptcy. They view bankruptcy as a last resort, only to be considered if every other option fails. It can be difficult to know just when a person has reached this point, but there are some signs that a debt problem has gotten too bad to handle. If you have questions about your debt problem or any of these scenarios apply to you, it may be time to speak with a bankruptcy attorney to learn your options.
The biggest sign that debt has gotten out of control is an inability to meet minimum obligations. If you find that each month you have to skip a payment in order to make ends meet, you should seriously consider bankruptcy. These missed payments result in penalties and fees which further push a person into debt. If you consistently facing the choice of which bills to pay and which to skip, it is unlikely that your debt problem will ever get better.
Another big sign that debt is out of control is when you begin isolating yourself from others or experiencing health problems because of it. Life is too short to spend worrying about bills that will never be paid off. If you find that debt is leading to depression or anxiety, or causing you to isolate yourself from loved ones, bankruptcy can help. We can always replace money, but we cannot replace time lost to this isolation.
If you are unsure if bankruptcy is right for you, an attorney can sit down with you, learn the facts of your situation, and help you determine if Chapter 7 or Chapter 13 might be right for you. Some people worry that the will face pressure to file by taking advantage of a free consultation, but this is not the case. Far from being a salesman, a lawyer actually has high ethical standards and will never pressure you into doing something that is not in your best interest. Instead, they will give you facts and information and help you make the right decision for you and your family.
At Westbrook Law Group, we can answer any questions you may have about bankruptcy. With offices in Troy, MO and St. Charles, we have two convenient locations to serve you. If you need help in St. Louis, St. Charles, or Lincoln County, contact Westbrook Law Group right away for a free consultation.