Filing for bankruptcy is a stressful, sometimes lengthy process, and most people experience tremendous relief once the case is finally concluded. Hiring a personal bankruptcy attorney may be the best way to ensure an outcome you want, with legal advice and help with the large amount of paperwork. However, many people are not sure if they do or do not need an attorney, so it is important to recognize a few top indicators that you may need a personal bankruptcy attorney in Milford, NJ.
Unsecured Debt
Usually this type of debt accumulates after an unplanned medical procedure, but it often may come from divorce and business-related debt as well. If you have a large amount of unsecured debt, it may be time to speak with a personal bankruptcy attorney about your filing options. If filing for bankruptcy is right for you, an attorney will help navigate the entire process and eliminate your unsecured debt.
High Credit Card Balance
Credit cards are excellent ways to help manage money and build credit simultaneously, but when the total amount begins to snowball, it may be time to take a realistic look at the total balance. Once the balance is higher than a certain amount, it becomes unreasonable for you to expect to pay it off. You should visit our website to speak with a personal bankruptcy attorney today.
Retirement Fund Withdrawals
Although this is a tempting way to pay off debt quickly, you should not withdraw funds from your retirement savings to pay off your debt. Very few people save enough for retirement, so using these funds for short-term debt may not be a wise option. If you have a dischargeable debt, speak to an attorney about the best way to approach filing for bankruptcy rather than depleting your hard-earned savings. Ultimately, working with an attorney will help the process of filing for bankruptcy move smoothly the first time, and you will receive important legal advice each step of the process.
