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Three Times Bankruptcy Could Be a Must

Filing Bankruptcy In Pasco, St Petersburg, And Tampa Florida.Filing Bankruptcy is Necessary under some Circumstances

Financial trouble is one of the worst stressors you can face in life. The good news is there are options available to help you get a handle on things and create hope for the future when it comes to your money. Bankruptcy is one of the most powerful of these options.

Though many financial “experts” claim bankruptcy should only be used as a last resort, the truth is bankruptcy is the best possible option for many people and delaying filing only means postponing relief. If filing for bankruptcy is a must, there’s no reason to put it off and make your situation worse.

What are three instances in which bankruptcy would undoubtedly be your best option?

1. You’re Facing a Financial Crisis

If you’re facing a financial crisis, bankruptcy can help.

Of course, what one person deems a crisis might not be the same as someone else, but there are a few financial situations where crisis would be an undeniable description. Foreclosure, repossession, and wage garnishment to name a few.

If you lose your home, or your mode of transportation to get you to work, or your earnings, it will have a catastrophic effect on your life. If you are facing any of these possibilities, it’s important to take drastic action and do so as soon as possible.

Bankruptcy puts a hold on all efforts made by creditors to collect on a debt. It gives you time to take a breath and figure out your next step. Maybe there’s nothing you’ll be able to do to save your home or keep your vehicle, but at least you’ll be able to look at your options objectively and determine what can be done to make your situation better.

Is a lawsuit filed by a creditor a crisis?

Maybe, but not always. If you’ve been served with a lawsuit on an unpaid debt, it’s a good idea to speak to an attorney but it might not necessitate filing for bankruptcy. It does tell you that bigger problems could be looming, so now is the time to take a moment and assess your situation before it gets worse.

2. Your Big Picture Financial Situation Looks Bleak

There are plenty of people out there who are struggling to make ends meet, but somehow they do it. Money might be tight, but at the end of the month, they have a few dollars left over to see a movie or save for a vacation or enjoy a meal out.

But what if this isn’t the case at month’s end for you?

What if you reach the end of your money and there are payments due that are left unpaid?

For a few months you might be able to make it work, but big picture-wise, things look bleak. If you are not earning enough to afford your bills, bankruptcy could be an option.

If you’d like more information or help to figure out if you are on the precipice of a financial crisis, check out this information that will help you assess your financial situation.

3. Your Mounting Debt Problem is Triggering Health Issues

If you lay awake at night trying to figure out how you’re going to afford to pay your bills, you aren’t alone. Sadly, this is the way many people live and not taking drastic action is doing more harm than good.

It’s just a matter of time before financial stress catches up to you. And when that happens, you could find yourself buried under medical bills, or worse.

Now is the time to look into your options and decide what to do next before things get worse.

If you’re dealing with any of these three scenarios – or more than one of the three – it’s time to make things right. Contact the Tampa Bankruptcy Law Office of Robert M. Geller at (813) 254-5696 to discuss your situation.

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Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
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125 5th Street South
(Wells Fargo Financial Center)
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St. Petersburg, FL 33701
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23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

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