Bankruptcy may be the best choice if you are struggling with debt. The good news is that you do not have to go through bankruptcy alone. There are bankruptcy law firms in St. Petersburg, FL, that can help.
Several signs might indicate the time has come to consider bankruptcy:
You Are Missing Payments
If you keep missing payments, it is a sign that you have more bills than money. Unless you start making more money, the cycle will continue.
It is not good to miss payments because you will have to pay late fees on top of what you owe. Interest rates might also rise and you’ll end up paying more over time.
These are good reasons to call one of the bankruptcy law firms in St. Petersburg, FL.
You Have Been Sued
There are some creditors who will sue you if you do not pay what you owe. If you have been sued or have been threatened with a lawsuit, then you need to file for bankruptcy. Creditors cannot contact you after you file for bankruptcy.
You Do Not Have Any Savings
It is a good idea for you to put away some money to cover your expenses in case of an emergency. However, if you are in a lot of debt, then it can be difficult for you to save money. That is why bankruptcy may be your best choice if you do not have a savings account.
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