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How to Choose the Right Bankruptcy Option for Your Situation

Jan. 24, 2023

If you are having trouble keeping up with your bills, St. Louis Bankruptcy lawyers know that the bill collectors and creditors are beginning to call you more and more. You need to be able to recognize the signs in your life that bankruptcy may just be the best option for you to improve your financial life, as well as the quality of your everyday life.

Some Signs Signifying Bankruptcy May Be Right for You

If any of the following situations sound like your situation, then there’s a good chance that bankruptcy could be your best option moving forward.

Financial Anxiety Has Entered Your Life

Financial problems can affect every aspect of your life and cause significant stress. It’s never easy to have to decide between groceries and rent. Even when the bill collectors are not calling, many of our previous (and no doubt future) clients regularly find themselves with their financial situation running through their mind all day, every day. This is one of the most potent signs that bankruptcy could be probably one of the best decisions that you could ever make in your life, especially for some immediate personal peace.


You are Behind on Your Monthly Bills


Every now and then, people get behind on their bills. That is just a fact of life. But, sometimes folks will let things pile up on them for long periods and, before they know it, the things that they had been trying to pay on monthly have become so overwhelming that they don’t see a way out.


These situations are at their worst when the monthly bill the person is behind on is something they need - like a car that they drive to work in, the rent payment for their apartment, or their mortgage payments.


It’s important to remember you are not along. For example, when it comes to how many people who are behind on car payments at any given time annually, Investopedia recently reported in November of 2022 that around three and a half percent of people who have a loan for a car, truck, SUV, or other kind of personal or everyday vehicle are currently behind on their auto loan payments.

You Don’t See a Way Out

Perhaps the most obvious sign that you should look into bankruptcy is when you don’t see a way out of debt. For example, if you are barely able to make the interest payments on your credit card and are on a fixed income, eliminating that debt through bankruptcy may be the best course of action. An experienced lawyer can help you determine whether you have other options or if bankruptcy is right for you.

Contact a St. Louis Bankruptcy Lawyer Today

At AKS Law Firm, we are committed to helping people just like you obtain a fresh start through bankruptcy. We offer completely free consultations and take calls 24/7. To schedule your case evaluation with a bankruptcy lawyer in St. Louis, call our office today or contact us online.