Are your debts piling up with no end in sight? If they are, you may be going through a challenging time, confused about where to turn, or worried about your job, relationships and health. If you want to have peace of mind and avoid stressing over these issues, you should talk to a bankruptcy attorney. In this article, you'll learn about three red flags indicating you need the assistance of these lawyers.
You Can't Make Minimum Monthly Payments
When you take out a loan, you sign an agreement that requires you to make a certain number of monthly payments. If everything goes as planned, you'll make your payments on time. However, you may find yourself lagging due to various reasons. The minimum payments may be unable to cover the interest accruing on the debt, let alone reduce the principal balance. If you rely on them, you may be trapped in a never-ending cycle of debt. This is when you need to consult an attorney. These professionals will assess your overall financial situation and advise you on the best course of action to take. They'll also talk to your creditors and work out a repayment plan that is more feasible for you.
Your Creditors Are Constantly Calling You
Creditors may call you during the day, when you're at work, and even at home. They may also send you threatening letters, especially if you're not responding to their calls or messages. This harassment can take a toll on your mental health and affect your productivity. A lawyer can end it by communicating with them on your behalf and fighting for your rights. They'll ensure your creditors follow the law and protect you from taking actions that may impact your case negatively.
You're Almost Losing Your House
When your debts constantly increase, you may fall behind on your mortgage payments. If you've already missed a payment or two, your lender could start foreclosure proceedings against you. Thankfully, you don't have to give up your home or feel hopeless because you don't have a choice. A lawyer can help you keep your home. They'll file for bankruptcy on your behalf to stop the foreclosure and allow you to catch up on your payments. They may also negotiate with your lender for a favorable payment plan.
If you've noticed any of these red flags lately, it is crucial to seek professional assistance as soon as possible. A bankruptcy attorney can get your finances back on track and protect your rights. Contact them today if you want to have peace of mind or pay your debts without straining.