If you are thinking about filing for bankruptcy, it can be difficult to know when the right time comes. You have fallen behind on a few payments, your mortgage is a little late, and things are getting hairy; but maybe you are wondering if it is really time, if you have exhausted other options, and filing for bankruptcy is the right step.
Talk to a Bankruptcy Lawyer
First and foremost, if you are faced with these kinds of decisions, you need to seek the counsel of a qualified Tampa bankruptcy lawyer. A bankruptcy lawyer will act as your guide through the wilderness of your financial situation, helping you to figure out where exactly things stand and whether filing for bankruptcy is the right option for you. Here are some things a bankruptcy lawyer will help you go over in your finances:
- Credit card use. If you are consistently using a credit card to pay for necessities, such that you are keeping a balance or that your balance is rising, that is a definite sign that you may be in over your head.
- Amount of debt. This seems simple, but many people have the tendency to bury their heads in the sand and try to ignore the true level of debt accumulating around them. If your debt situation is causing you to run away, your bankruptcy lawyer will ask you to look it in the eye.
- Late payments / missed payments. If you are consistently late on your payments or missing payments on your home, car, credit card, or anything else because you cannot afford to make the payments, your bankruptcy lawyer may advise filing for bankruptcy.
The details can get complicated quickly, so be sure you consult closely with your bankruptcy lawyer to get the best outcome possible for your financial future.