Bankruptcy is typically a taboo subject, but filing for bankruptcy has helped thousands of people get the financial freedom they need. It will help repair your credit score, allow you to be stress-free, and most importantly, it will allow you to get on with the rest of your life.
Let’s take a look at some signs you should file bankruptcy.
You’ve Tried Negotiating Already
If you’ve already tried negotiating with creditors and they haven’t budged and you don’t have the funds to make your payments, it may be best to file for bankruptcy.
You’re Facing Foreclosure
If you’re behind on your mortgage payments and your lender is now threatening to foreclose on your home, filing for bankruptcy can help. It will allow you to keep your home and catch up on your mortgage payments.
Your Liabilities Exceed Your Income
If your debt amount is more than the monthly amount you have coming in, you may want to consider filing for bankruptcy. Underemployment and unemployment are major reasons why many individuals file for bankruptcy.
You’re Being Sued
If your unpaid debts have led to creditors filing a lawsuit against you, it’s a good idea to file for bankruptcy. Creditor lawsuits are often the start of aggressive tactics to seize your assets.
You Don’t Have Any Savings or Retirement Funds
If you’ve already used all of your savings and retirement funds to repay your debts, filing for bankruptcy may be a good idea because it will free up some of your income so you can better prepare for your future. You should talk with us before using up all of your retirement as those accounts can be protected from your creditors.
Experienced Bankruptcy Attorneys
If you have more debt than you can repay and are weighing your options, filing for bankruptcy may be your best option but it shouldn’t be taken lightly. Before making a decision, you should consult with a reputable credit counselor like OlsenDaines. We have knowledgeable and experienced bankruptcy attorneys all throughout Oregon and Washington ready to help. We’ll give you candid, honest, and caring advice. So contact us today for your free debt relief consultation.
Signs You Should File Bankruptcy in Portland OR and Salem OR
And all surrounding areas