Your life plan didn’t include incurring debt that was beyond your ability to honor. When it seems as if you can never catch up, it may be time to consider a solution that has been in the back of your mind but that you’ve resisted so far. That solution is filing for bankruptcy protection. Here are a few reasons why it’s important to talk with a bankruptcy attorney in Belvidere, IL, today.
You already see that things are only getting worse from one month to the next. More collection calls are coming in, as well as letters threatening further action. What you do pay toward the debt each month is easily offset by late fees and penalties. Instead of sinking deeper into debt, now is the time to find out if there’s a way to reverse the situation.
Another reason to call is that every other method you’ve tried has failed. Debt counseling only accomplished so much. You even thought about a debt relief plan, but not all of your creditors are willing to participate. That leaves filing for some form of personal bankruptcy.
Since this is new territory for you, it’s important to have legal counsel who can explain how different forms of personal bankruptcy work. You’ll also learn which one would be best in your case. Your bankruptcy attorney in Belvidere, IL, can administer a means test, ensure everything is in order for the court’s consideration, and ensure you know what the court will require of you.
While you would rather be in a position to pay off your debt, that’s not the case. See a lawyer and take the first step toward getting back on a sound financial track. Once everything is in motion, you’ll be surprised at how much better you feel. For more information, please visit Crosby Law Firm today.