Many individuals struggling to stay on top of their bills wait too long before speaking with a bankruptcy attorney. Whether they optimistically believe they will be able to pull out of the debt on their own, fear the stigma of filing for bankruptcy, or worry they will be unable to afford a bankruptcy attorney, it often becomes worse for the individual who delays the process.
1. You’re struggling to reach minimum payments on your credit cards
If you are relying on credit cards for necessities like food and gas, but unable to pay more than the minimum or any payment at all, you should take this as the first sign of considering a consultation with a New York bankruptcy attorney.
2. You have “untraditional loans”
Turning to untraditional loans, like getting new credit cards just to max them out, payday loans, or retirement funds, may dig you into a hole of debt that is even more impossible to climb out of.
3. You were laid off, fired, or took a pay cut
As a New York resident, being laid off, fired, or otherwise not making as much money as you used to will almost surely put you into debt. If you’re struggling to make ends meet while finding new work, contact a New York bankruptcy attorney immediately for help finding relief.
4. You’re facing an unexpected medical bill
An unanticipated medical bill can come out of no where, and you may not have the savings to deal with it when it does show up. In most cases, you won’t have a choice about receiving treatment, leaving you with a bill you don’t know how to pay. A New York bankruptcy attorney can help you discover your options.
5. You’re facing home foreclosure or eviction
Filing for bankruptcy in New York City will not only stop the foreclosure or eviction process, but force your bank to cooperate. With a loss mitigation program built in, you will be able to focus on paying for your home instead of worrying about other bills – like credit cards or medical bills.
If you find yourself struggling with one or more of these items, contact a Brooklyn bankruptcy attorney at Michael F. Kanzer & Associations, P.C. We have helped hundreds of individuals discharge their debts by providing our clients with expert protection against Chapter 7, Chapter 11, Chapter 12, and Chapter 13 bankruptcy for more than a decade.