A clear indication that it's time to consult a bankruptcy attorney is when you are unable to pay your credit card debt or when you begin paying your expenses with credit cards and obtaining cash advances to get by until your next paycheck. There is a good possibility that you will receive threatening letters and phone calls from creditors demanding payment if you are in this situation.
Most people are unaware that it doesn't take much for these individuals to take action against them until it's too late.
Debt Settlement and Debt Consolidation VS. Bankruptcy
Attention: debt consolidation services do not provide protection from litigation and wage garnishments. These services will not come to your aid when the repossession agent arrives to seize your property. The majority of these businesses are pretentious gophers. You are paying a third party a substantial sum to act as your attorney-in-fact and negotiate with your creditors. However, their services do not include legal representation if you are sued.
By filing for bankruptcy, the court grants you immediate protection, which entails the following:
Creditors MUST cease all contact with you. It is unlawful to do so 2 All litigation and wage garnishments MUST cease.
With the exception of child support, student loans, and other legal obligations such as unpaid taxes, almost all debt will be eliminated.
I've heard a number of individuals give misleading and plainly incorrect financial advice to people in financial distress on online forums. You cannot afford to do nothing if debt collectors are standing on your door or if you are receiving calls at work or at home because of missed credit card payments. These companies will sue you for everything you possess. If you want to keep your family secure while getting your finances back on track, you need only consult a local bankruptcy attorney. The free initial consultation is the initial step toward financial independence and a debt-free life.""
" - https://www.affordablecebu.com/