Some people would rather struggle silently than consider filing for bankruptcy due to the negative connotation it has. But did you know that filing for bankruptcy can give you a reset on debt? Many people are unaware of the numerous benefits filing for bankruptcy can provide, or they don’t know how far in debt they have to be before filing. Craft Law Offices has the answers for you.

When is the right time to file for bankruptcy?

Filing for bankruptcy does not mean you’re a failure or are giving up. It can actually be the reason you are able to start over, with a clean slate, debt free. So, when is the right time to file for bankruptcy?

• You have been dipping into retirement funds.
• You are paying your bills with credit cards and/or have maxed out your cards.
• You are only making the minimum monthly payments on credit cards with high interest rates.
• Creditors are contacting/harassing you.
• Your home is being foreclosed or your car is being repossessed.

If some of these apply to you and your situation, you may want to consider speaking with Leslie Craft. Instead of spending your last dollars, or exposing yourself to even more debt build-up, call our office to inquire about filing for bankruptcy. Filing could offer you a fresh start and a chance to rebuild your finances.

Sometimes it can feel like you are drowning in debt. Filing for bankruptcy may benefit you in the long run in many ways. There are numerous reasons someone might file for bankruptcy, including:

• To end the constant debt collection efforts and lawsuits.
• To wipe out or reduce various kinds of debt.
• To prevent repossession or foreclosure.
• To potentially increase credit score.

When you are struggling with your finances, the added burden of debt collectors hassling you and the thought of potential foreclosures can certainly increase the stress and concern you may feel. Filing for bankruptcy can give you the freedom to get out of the hole and start over.

If you find yourself struggling with any of these situations and you are looking for guidance, filing for bankruptcy could be the next step for you, but don’t wait too long. The sooner you file, the sooner you can protect your assets and accounts from creditors. If you have questions about filing for bankruptcy, or you are ready to take the next step, contact Craft Law Offices today to schedule a free consultation.