Clark county has suffered a lot with the struggling economy, leaving many people in a financial mess. Credit card bills and other debt can quickly add up and become overwhelming and unmanageable. If you find yourself in a hardship and see no end in sight, then you may want to consider contacting a Springfield, Ohio Bankruptcy Attorney.
Five signs bankruptcy may be right for you
- You are unable to make or maintain your monthly minimum payments due to your creditors each month. Or, your debt to income ratio is high, and even though you are maintaining your monthly payments, the bills aren’t going down or are going up due to creditor fees and interest.
- You are facing foreclosure, car repossession, or your utilities are in danger of being shut off.
- You have already exhausted all other options including debt counseling, borrowing from friends or are considering borrowing from your retirement and are not sure what else to do.
- You want to be able to see the light at the end of the tunnel and just need to get a fresh start to help improve your family life and well-being.
- You have no savings or money set aside for an emergency. You may be squeaking by right now, but if a medical situation arises or a family member is in need, you could find yourself in even more of a bind.
Bankruptcy can help you get out from under your debt. In a chapter 7 bankruptcy, all of your debt is forgiven and you get a clean slate. Or, you can file for chapter 13, and payback the debt over a 3-5 year period.
For more information about bankruptcy, contact us, we will be happy to discuss your options with you.