Are You Overwhelmed By Debt? See Why You Need A Bankruptcy Lawyer

8 February 2022
 Categories: Law, Blog


Debts can give you sleepless nights wondering how you will get out of the situation and have a new start. They can also trigger disagreements with your spouse, damaging your relationship. Furthermore, the worry and anxiety of bankruptcy can lead to mental health disorders and other health issues. 

However, you don't have to wait for things to fall apart to seek help. You can save the situation by consulting a bankruptcy lawyer. Here are instances when you will need the guidance of a lawyer:

You're About to Lose Your Home to Debtors

If you have delayed in paying your mortgage payments for some time, your lender might want to acquire the property to recover their debt. But before that happens, consult a bankruptcy lawyer. They will advise you on the best measures to take to avoid losing your home. For instance, they can suggest filing for bankruptcy. In this option, you'll freeze all the other debts, making it easy to pay your mortgage.

Your Medical Expenses Have Consumed All Your Savings

If you suffer from a condition requiring specialized treatment, your insurance might not cover all your medical expenses. Because of that, your medical bill might quickly escalate, making it challenging to pay everything out of pocket.

If the hospital pressures you to clear the bills, consult a bankruptcy lawyer right away. They will help you file for bankruptcy to wipe out the debt. As a result, you will recover from your financial problems and sickness with more ease.

Your Judicial Separation Has Caused Financial Strain 

A judicial separation can cause financial strain, especially if you have to stay at home with your kids throughout the process. Besides, legal fees and court expenses might consume a substantial amount of your savings. Eventually, you will have challenges providing for your kids. You could also get into trouble with the court for failing to honor your monthly child support payments if you are not the legal guardian of the kids.

Hiring a bankruptcy lawyer is essential in this situation. They will help you file a case showing your inability to pay off the debts you've accrued from your divorce. This removes the financial stress off your shoulders, enabling you to plan the future after the divorce. 

If you're overwhelmed by your accumulated debt, hire a trained bankruptcy attorney to help you navigate the issue. They will advise and help you file for bankruptcy, enabling you to rebuild your life without worrying about your colossal debt.