How will I make my payments this month? Will I lose my home? What impact would bankruptcy have on my credit score? Is bankruptcy right for me?
These are just a few of the questions you might be asking if you are considering bankruptcy. Facing serious financial debt can be an extraordinarily stressful time for most people. It is important to work with an experienced lawyer who can give you accurate bankruptcy information and avoid the bankruptcy myths that can only increase confusion and anxiety.
Many people, including those in Hartford, Connecticut, seriously consider personal bankruptcy as an option. While viewed by some as a drastic measure, declaring bankruptcy can be the right choice in many cases.
To know if bankruptcy is right for you, you should ask yourself some questions.
Is there a different way that you can get the money you needed to pay your bills?
You can look into a plethora of possibilities, from selling possessions to asking relatives and friends for financial assistance. You can also look into getting a second job or even a third job. None of these things are fun, but one or more of them could improve your situation. Exploring the possibilities in each of those regards at least will let you make an informed decision about pursuing personal bankruptcy.
Are you on a budget?
The accumulation of debt, and the inability to repay it, typically have two components. One is insufficient income. The other, however, is excessive expenditures. By reducing the amount of money that you spend each month, you may find that you have enough cash to pay off some of your debts.
Should future prospects for additional income be considered?
Yes. For example, in the short term, if you recently became unemployed, you may be eligible for unemployment benefits. In the long term, you may be able to get another job. Consider the skills that you have, and the types of businesses you can apply them for.
Can you make a deal directly with those you owe money to?
You may be able to. A simple principle to apply is that it is better to get something instead of nothing. Those to whom you owe money may very well prefer to get some money from you soon, in exchange for reducing overall debt, instead of wondering if they are ever going to get anything.
We Understand The Challenges
We can help you. At The Law Offices of Ronald I. Chorches, we understand the challenges you are facing. With decades of legal experience, attorney Ronald I. Chorches has a remarkable breadth and depth of knowledge in all aspects of bankruptcy. We help clients throughout the Hartford, Connecticut, area understand their options and make smart debt relief choices.
At The Law Offices of Ronald I. Chorches, we can help you determine:
- Whether bankruptcy can save your house or help you avoid foreclosure
- Whether bankruptcy willhelp you avoid repossession of your car or other valuable assets
- What exemptions might be available to you in bankruptcy
- Whether Chapter 7 or Chapter 13 is a better choice for you
- Whether any bankruptcy alternatives might be a better choice for you, including debt settlement or debt consolidation
Get In Touch With Us
Talk with us today about whether bankruptcy is the right choice for you. Call 860-563-3955 in Connecticut or email us today to schedule a free initial consultation.