Knowing When It’s Time to Contact a Bankruptcy Attorney

November 27, 2020 By: Carrie Weir

Telltale Signs Bankruptcy Might Be Right for You

When you’re struggling to make ends meet, the uncertainty you face from day to day can make it difficult to know exactly what to do. Should you consider filing for bankruptcy protection? Can you work your way out of your financial challenges without filing? What will friends and family say?

The first thing to understand is that bankruptcy needn’t carry a negative connotation—it’s not an indication of failure. Many famous and ultimately successful people—Walt Disney, Abraham Lincoln, and H.J. Heinz, to name a few—sought protection in bankruptcy before turning things around. Bankruptcy laws were enacted to give people a fresh start. In fact, many creditors consider bankruptcy filing an indication you’re doing something constructive to resolve your financial problems.

Warning Signs That Bankruptcy May Be a Good Option

Just because you’re behind on a few payments doesn’t necessarily mean you need to retain a bankruptcy lawyer. Here are some more concrete indications that you may not be able to solve financial problems short of bankruptcy:

• Your car and/or house payments have been more than a few days late for at least three consecutive months.
• You have at least one credit card that’s maxed out, and you use the available balance as soon as you can.
• You’ve taken out multiple cash advances from a credit card in the last three months.
• You’ve taken out more than one “payday” loan in the last six months.
• You’ve overdrawn your checking account more than once in the last six months.
• You’re using a credit card or cash advance for basic necessities, such as food, utilities, car payments or mortgage/rent payments.

Contact an Experienced Rockwall, Texas, Bankruptcy Attorney

At the Law Offices of Carrie Weir, all potential clients are entitled to a free initial consultation. I am currently communicating with clients by phone, text message, or videoconference. To arrange an appointment, contact my office online or call 972-772-3083. I handle Texas personal bankruptcy filings in Rockwall County, Collin County, Dallas County, Hunt County and the surrounding counties.