9 Signs You Should Consider Filing Bankruptcy [infographic]

Arnold Law Offices • Jul 14, 2022

  After divorce, job loss, a serious illness, or another unfortunate life event, you may be struggling to make ends meet. Although you hope that this period of financial difficulty will end, you may want to consider filing bankruptcy to get out of debt if you experience any of the following circumstances.

  1. You worry about money constantly— If you feel anxious every time you spend money and you have trouble sleeping because you are always thinking about your finances, bankruptcy may be right for you.
  2. You have spent your savings— You may want to consider bankruptcy if you have used your savings to pay for regular household expenses, like your mortgage or groceries.
  3. You regularly rely on credit cards— While credit cards are a helpful tool, you may want to move forward with bankruptcy if you put most of your purchases on credit and only make the minimum payments.
  4. You avoid opening your mail— Do you wait days or even weeks to go get your mail because you know there will be letters from your creditors waiting for you? Bankruptcy may be a beneficial option.
  5. You wonder how to pay your bills— If you feel like your bills do nothing but pile up and you do not know how to pay them, bankruptcy may provide a way to improve your finances.
  6. You are behind on payments— Are you behind on your car payment or your mortgage? If you struggle to make your payments on time, bankruptcy may be a good option.
  7. Your creditors constantly contact you— You avoid picking up your phone because you never know when a creditor could be on the other end, pestering you to make your payments.
  8. You take out loans to pay bills— If you frequently ask friends or relatives for money, or you have taken out loans to pay your bills, filing bankruptcy could help.
  9. You have thought about a consolidation loan— Although acquiring a debt consolidation loan may seem like a good idea, filing bankruptcy may be the better option.
By Arnold Law Offices 25 Jul, 2023
There are a lot of common myths and misconceptions about bankruptcy law that can end up harming people. If you have any questions about bankruptcy laws or what filing for bankruptcy would mean for you and your future, this article will be dispelling a few popular myths that could help you make the best decision. […] The post Common Myths About Bankruptcy Law first appeared on Arnold Law Offices.
By Arnold Law Offices 26 Jun, 2023
If you ever have the misfortune of being in a car wreck, knowing the proper steps to take can make a major difference in the outcome. In this article, we’ll give you the key steps you should keep in mind in order to protect yourself from legal trouble and heal from any injuries you’ve sustained. […] The post Important Steps to Take After a Car Wreck first appeared on Arnold Law Offices.
By Arnold Law Offices 25 May, 2023
If you’re injured in the workplace or hurt in an accident, you might have several concerns and questions. How will you pay off your medical bills if you’re unable to work? What if your injuries were the result of someone else’s negligence? In situations where you’re seriously hurt and unsure what your next steps should […] The post How a Personal Injury Lawyer Can Help You first appeared on Arnold Law Offices.
By Arnold Law Offices 25 Apr, 2023
There are many times throughout a person’s life when they might find themselves in need of legal advice. Some of these situations may be exciting, such as getting married or adopting a child, whereas other life circumstances can be more bitter or frustrating. In any case, if you’re about to make a major change that […] The post Signs It’s Time to Get a Family Law Attorney first appeared on Arnold Law Offices.
By Arnold Law Offices 24 Mar, 2023
Being charged with a criminal offense is a very serious situation to find yourself or one of your loved ones in regardless of whether you have actually committed a crime. You have a constitutional right to an attorney, even if you can’t afford one. However, it’s often a better option to hire your own attorney […] The post Why Choosing the Right Criminal Defense Lawyer Is Important first appeared on Arnold Law Offices.
By Arnold Law Offices 24 Feb, 2023
When declaring bankruptcy, one of the major decisions you will have to make is whether to file Chapter 7 or Chapter 13 bankruptcy. These are two of the most common types of bankruptcy because they are available to individuals, and each has unique advantages and disadvantages. But today, we’ll be going over Chapter 13 bankruptcy […] The post Understanding Chapter 13 Bankruptcy first appeared on Arnold Law Offices.
By Arnold Law Offices 25 Jan, 2023
If you find yourself in a dire financial situation because you are overwhelmed with debt and being bothered by creditors, bankruptcy can often be a useful solution. But before you can file for bankruptcy, you should hire a trustworthy bankruptcy lawyer who can enlighten you and make sure you understand your options. Here are several […] The post What to Ask Before Hiring a Bankruptcy Lawyer first appeared on Arnold Law Offices.
By Arnold Law Offices 27 Dec, 2022
In our legal team’s experience, few people know very much about personal injury law. Hopefully, the reason they know little is due to their lack of injuries in the past, but once an accident occurs, it’s important to understand what to do next. Today, we are debunking three myths about personal injury claims so you […] The post Three Myths About Personal Injury Claims first appeared on Arnold Law Offices.
By Arnold Law Offices 25 Nov, 2022
Getting a divorce is never easy. However, that doesn’t mean getting a divorce always has to be messy. When you and your spouse are able to agree on certain things, the process can move along in a smoother fashion and make things easier on everyone. Here are a few reasons why an uncontested divorce may […] The post Why an Uncontested Divorce Is Often Preferable first appeared on Arnold Law Offices.
By Arnold Law Offices 25 Oct, 2022
There are two primary types of consumer bankruptcy – Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 7 bankruptcy is often referred to as “liquidation” or “straight” bankruptcy because it involves completely discharging your debits in exchange for some of your property. Once you decide to file, you will be able to keep “exempt” property, […] The post What is Chapter 7 Bankruptcy? first appeared on Arnold Law Offices.
More Posts
Share by: