The most common question I get as a Lakewood bankruptcy attorney is whether a bankruptcy case can help with a consumer’s specific circumstances. I always answer that basic question during free, initial bankruptcy consultations, and here is a list of common factors I consider.
- Your household budget is underwater. There are all kind of things which happen in life that cause household expenses to exceed household income. A medical emergency, an interruption to employment or reduced hours, marital problems, or simply having too high of a monthly credit payment. If more money is going out each month, and you’re stressed out trying to pay all of your bills, I recommend figuring out if bankruptcy is a tool that would help.
- You are putting off routine car maintenance, home maintenance, or needed medical/dental care. The most common problems I see are with dental care and car maintenance. Skipping routine dental cleanings can lead to needing very expensive procedures which aren’t covered by even the best dental plans (crowns, root canals, etc.).Similarly, if you can’t afford regular maintenance like routine oil changes for your car, much more expensive work will likely be needed to keep your car running later on.
- You feel stressed about paying your bills each month. Stress makes so many manageable health conditions unmanageable (strokes, heart attacks, depression).It also reduces the quality of our lives. One of my favorite parts of representing consumers in bankruptcy is explaining options to potential clients which they did not know were available. I love the look in a client’s eyes after they’ve been struggling for years and we’re able to come up with a better, more manageable financial plan together.
- You feel like you have no spending money on fun stuff. Many people don’t like thinking about a budget because they don’t want to feel limited about what they can afford. In my experience, establishing a budget has the opposite effect for most people. We can identify exactly how much a family can afford each month for entertainment which rids people of the guilt associated with fun, frivolous purchases.
Can you relate to any of these 4 factors? If so, I’d be happy to speak with you during a free, initial bankruptcy consultation over the telephone and explain how your rights under the bankruptcy code might help. Use the calendly link in the bottom righthand corner of this screen or call 720-638-9449.