Drowning in debts is an overwhelming situation that will make you extremely stressed. Even worse, financial strains will often ruin relationships. Due to this, you need to file for bankruptcy to help you get all the help you can. The process can be pretty daunting if you try to do it alone. Thankfully, a bankruptcy attorney can help you gather evidence and represent you in court. Here are a few telltale signs that you need a lawyer for your bankruptcy case.
Possible Foreclosure or Repossession
If you miss out on consecutive payments for your mortgage loan, the bank could foreclose or repossess your home. Typically, the bank or any other financial institution will give you plenty of notice about the action they are going to take. When that happens, hire a bankruptcy lawyer to help you retain your assets.
The professional will assist you in filing for bankruptcy so you can hold on to your house. They will help represent you in court and give you some additional financial relief.
Constant Use of Credit Card to Pay Daily Expenses
You will know that you are far into debt if you are constantly paying utility bills and groceries with your credit card. The primary reason is that you don't have any money in your accounts. Thus, you can't even sustain your basic expenses.
If this is the case for you, you should really consider hiring an attorney to help you file for bankruptcy. This action will prevent you from sinking further into debt.
Ineligibility for Debt Relief Programs
When you are heavily indebted, you won't qualify for debt consolidation or debt management programs. Fundamentally, a company will work with your creditors to reduce interest rates and monthly payments. If you aren't eligible for such benefits, it's critical to hire a bankruptcy attorney.
The legal expert will do the following:
- File for the correct bankruptcy category
- Help you prepare sufficient paperwork for your case
- Answer your questions and address your concerns
Frequent Harassment from Creditors
It's no secret that creditors will start harassing you when you default on several payments. You will get emails threatening you for legal action. What's more, may start to experience a higher frequency of phone calls by companies looking for you to pay off your debts to them. Depending on the situation, other creditors might even talk to your family about the debt in question.
The good news is that a bankruptcy lawyer will act as a mediator between you and your creditors. You don't have to deal with the highly stressful situation on your own. Your attorney will have the expertise to control creditors from harassing you. Thus, you can work on generating income instead of handling frequent overpowering calls.
For more information, contact a local bankruptcy lawfirm, such as Martinez Law Firm, near you to learn more.