You work hard every day to budget your money carefully, but even the best budgeter can suffer financial difficulties. A sudden job loss, unexpected illness or an accident can destroy a budget that was otherwise paying the bills and affording a person with a comfortable life. Falling behind on bills after years of being ahead can be a frightening situation, and you may be unsure of where to go from your current situation to get help. If you are drowning in new debts, it may be time to consider personal bankruptcy to help get relief from the problem.
Balances Never Change
If your balances never seem to get any smaller even though you make regular payments, you may be a candidate for personal bankruptcy in Longview, TX. Paying the minimum payment alone will never get rid of your debts because most credit cards charge a fee each month simply for not paying the card off entirely. Therefore, getting behind can happen quickly, and getting ahead again can take months. Contact us to learn more about the options available and discuss your debts with a trained professional capable of helping you work through the process quickly and efficiently.
Losing Retirement Funds
You should not be forced to dip into your savings account just to pay routine debts, such as a credit card bill. If you have even considered withdrawing money from your pension or 401k account, or if you have already done so, you may be ready to file for personal bankruptcy. Paying bills using retirement funds will cost you more in the future when you do not have these funds available when the time comes for you to retire. In addition, taking money out of these accounts may actually worsen your situation by causing you to owe a tax penalty on the funds withdrawn. Through getting in contact with the right professionals, you can determine whether filing for bankruptcy is your best option.
