Knowing When to File
Many people face financial difficulty at some point in their lives, forcing them to deal with the considerable stress and frustration that accompanies financial worries. In this situation, a person often has many options, from debt negotiation to bankruptcy. However, choosing between these options is not easy, especially as many people do not know when it is the right time to file for bankruptcy. Fortunately, there are some clear signs that can indicate that you should consider filing for bankruptcy.
At Hong Law, PLC, our team understands the difficulty that many Clinton residents face when it comes to finances. With the help and guidance of a skilled attorney, though, many people are able to quickly assess their legal options and successfully take the right financial step, whether it is filing for bankruptcy or another option entirely.
Signs It Is Time To File for Bankruptcy
Filing for bankruptcy can be a hard decision for people to make, especially if they are unsure if they should even take this step. Minor debts aren’t necessarily indicative that bankruptcy is the right option for you, but signs such as the following may demonstrate your need to consider this option:
- You are unable to pay monthly bills
- You have increasingly large debt
- You have severe anxiety and stress about your finances
- You receive harassing calls from creditors
- You cannot make payments on time
- You are facing foreclosure or repossession
If you are facing one or more of the above situations, it is time to consult with a lawyer about your financial situation and options. It may be best to file for bankruptcy, which can help you resolve these financial issues over time.
Learn More about Filing for Bankruptcy from an Attorney in Clinton
If you think you should consider filing for bankruptcy but are not sure, the best way to understand what you should do is to talk about your situation with an experienced attorney. Call Hong Law, PLC today at (319) 294-5853 to learn more about how we can help you through bankruptcy and reclaiming financial independence.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office