Have you been feeling a financial crunch lately? You are not the only one seeking the help of a bankruptcy attorney. Despite the news report of an improving economy, many people are still struggling. They are unable to recover from devastating financial setbacks. If you honestly believe you are alone, think again. Many decent, honest, and hardworking folks are going through similar money problems. Do you want to know how they got behind on their bills?
Here are 4 reasons why bankruptcy lawyers have their hands full.
1. Preventing Home Foreclosure
Is the bank sending notices that you are behind on your mortgage? Do these letters start to sound more like serious threats? Is your mortgage broker not open to refinancing your loan to make the payments more manageable? Do you owe more on the house than what it is currently worth? This is a scenario many homeowners are facing today.
2. Employment Changes
Many people wonder if the unemployment rate the government releases every month is real. Why do concerned citizens question official statistics? One in 6 Americans today relies on food stamps. Unable to find decent employment, you may be one of them. There is a huge list of men and women who depend on subsidies because their hours were slashed or their pay was cut. They have no other choice but to file a petition when their credit cards are maxed out, and family members stop supporting them.
3. Stop Harassing Creditors
Bill collectors can be ruthless. They stop at nothing because it is their job to retrieve the money their clients invested in you. Creditors can be just as persistent. They will call, email, and send threatening letters through the mail. Once a petition was filed at the courthouse, lawyers inform creditors of their client’s status change. Peace will return.
4. Excessive Medical Bills
Even citizens with a juicy savings account may need a bankruptcy attorney. There may come a time when all their hard-earned money is gone. Maybe it was spent on doctors, expensive medication, and hospitalization. Even people with health insurance coverage may lose everything because their policy keeps rejecting necessary treatments, or they want too much co-pay. Filing for Chapter 7 bankruptcy can reduce or eliminate a crushing medical debt.
I understand exactly what you are talking about!! Things are bad where I live too, you are lucky to find work!
These are such real problems and too many people face them. Yet so many people are afraid to file because of the stigma attached to bankruptcy and the worry about how it will affect their credit rating for many years.