When’s the Right Time to File for Bankruptcy

When’s the Right Time to File for Bankruptcy

Fort Worth bankruptcy attorney

There are many reasons why you may think filing for Chapter 7 bankruptcy is the best option. The bills may be piling up or you may have accrued a significant amount of credit card debt that seems impossible to get out of. Bankruptcy shouldn’t be your first option to get out of this debt, but sometimes it is the best option. The tricky part is knowing when to file. Speaking with a Fort Worth bankruptcy attorney can help make sure the time is right, but you can also take the following points into consideration.

When You Can’t Keep Up With Bills

You may have had an unexpected serious illness prevent you from making a decent living. If this happens, you could find yourself struggling to pay your medical bills and even the other monthly bills you have. It’s important to note that simply not being able to keep up with bills due to poor money spending habits does not usually merit filing for Chapter 7 bankruptcy. But if an unforeseen circumstance happens, then it may be the right time to file.

When You’ve Been Sued By A Debt Collector

Not paying off a debt will likely result in the debt being turned over to a collection agency. If you get sued by a debt collector, you will likely incur even more expenses to fight the lawsuit because of attorney’s fees and other court costs. This could be a good time to consider filing for bankruptcy in Texas.

When You Have Your Wages Garnished

Various circumstances could lead to having your wages garnished. You may or may not be a good candidate for filing for Chapter 7 bankruptcy in this situation, but it is a good time to seek the advice of an attorney for a recommendation. There are some tricky circumstances when it comes to wage garnishment, so it’s not an issue you want to tackle on your own.

When Home Foreclosure is a Possibility

If your home could be foreclosed in the near future because of your financial situation, don’t delay in finding a Fort Worth bankruptcy attorney. They can help you not only find ways to catch you up on your payments, but also save your home in most cases.

Bryeans & Garcia have been in business for more than five years to help people in Houston and Fort Worth file for bankruptcy when the time is right. We know a good bankruptcy case when we see one, so be sure to contact us for a free consultation to determine whether you have a favorable situation for filing for bankruptcy.

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