Thinking about filing for bankruptcy? It’s a scary thought and a decision that requires a great deal of consideration. To many, declaring bankruptcy can seem like a drastic move and definitely something to be avoided, but there are times when choosing bankruptcy is the right decision for both individuals and companies. We live in times when debt is rampant and enormous. You get credit card offers constantly and you may have gone into debt for college, a car, a home–there are always legitimate reasons to incur debt. But, if you’re drowning in it, bankruptcy can provide a much needed reset.
That said, let’s go through some of the signs that show you it’s time to declare bankruptcy.
1. You have no idea how much you owe
2. You’ve been getting collection calls
3. You use a credit card to pay for basic necessities
4. You make only the minimum payment on your credit cards
5. You are avoiding assessing your finances, afraid of what you will find
If two or more of these statements apply to you, it’s time to give some serious consideration to declaring bankruptcy. That’s where we can help. One of the first things we’ll do is go through your assets with you, making an inventory of things like retirement funds, vehicles, savings accounts and so forth. We’ll then determine how much you owe. If you owe a great deal, and don’t have a lot of assets, declaring bankruptcy can sometimes be an option. We’ll do the hard work of filling out the paperwork making sure you have declared all the things you need to and that you are in compliance with the law. There are different types of bankruptcies–including chapter 7 and chapter 13, the two most common. We’ll help you determine which one is right for you or your business.
Don’t hesitate, call us at Alpina Legal today, and let’s wipe your financial slate clean!