Lefkovitz & Lefkovitz

Nashville Office 615-256-8300       Cookeville Office 931-400-2218

Nashville Office 615-256-8300
Cookeville Office 931-400-2218

Serving all of Middle Tennessee’s Bankruptcy Needs

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Is bankruptcy in your future?

On Behalf of | Dec 17, 2020 | Personal Bankruptcy |

As soon as you start considering bankruptcy, the adage goes, you probably should have filed six months ago. People are so invested in the idea of resolving trouble on their own or fighting through personal challenges, that they often take too long to fully grasp their problems – or possible solutions.

Bankruptcy was developed to give hardworking Americans a chance to overcome overwhelming debt and work toward a fresh financial future. While it has gained a somewhat negative connotation in the past, seeking debt relief through bankruptcy is a way to protect your family from further hardships. Consumers are encouraged to recognize these four signs that it might be time to seriously consider bankruptcy:

  1. You’re consistently missing payments. This can be anything from credit cards and utility bills to student loan and mortgage payments. When you must forego payment on one account to ensure you have enough money to pay on another, you might be in financial trouble.
  2. There is more and more communication from debt collectors. People who occasionally make a late payment might never face the frustration of constant collection efforts. Emails, letters and phone calls can quickly become insistent as creditors seek to receive payments.
  3. Your credit cards are maxed out. It’s not uncommon to have a credit card reach its spending limit, but when more and more of them become maxed out with no end in sight, you might be facing peril.
  4. Emergency expenditures take a more permanent toll. Personal emergencies can range from job loss and divorce to medical expenses and home repair. These bills can quickly become overwhelming to the cash strapped.

Whether you are considering filing Chapter 7 bankruptcy or Chapter 13 bankruptcy, it is wise to explore your options as soon as you feel your finances are becoming a problem. By letting debt mount, it can be more and more challenging to overcome the longer you wait. Do not hesitate to learn more about the bankruptcy process and how it can benefit you and your family.

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