facebook-squarelinkedin-squaremenumobiletwitter-squareyoutube-square

Should I File Bankruptcy

Should I File for Bankruptcy?

Are you feeling stressed and overwhelmed with your finances? Is possible you might need to file for bankruptcy in Seattle? We are your Western Washington Bankruptcy Specialist. Bankruptcy is an important decision. Divorce, unemployment, unexpected medical costs, disability, large amounts of credit card debt and business failure are all common reasons leading people to seek debt relief. The purpose of the bankruptcy laws is to provide relief for people who need a fresh start in their finances.
To weigh the options whether you should file or not, please ask yourself these questions:

  • Is your debt over $5,000 (not including a car loan or house mortgage)?
  • Are you frequently late on bill payments?
  • Do your monthly payments account for more than 25{02b93d141c77197c0449b6ae8094cea34516f3b9f119afe0d973b93baf87a4bf} of your take-home pay?
  • Do you purchase necessities (food, clothing, etc.) on a credit card?
  • Have you considered taking on a new loan to pay off other loans?
  • Are creditors harassing you with phone calls?
  • Do you make regular monthly payments, without a decrease in your balance?
  • Are you more than one month behind on more than one bill?
  • Are your wages being garnished?
  • Are you being sued?
  • Have you been denied approval for a recent credit application?
  • Do you frequently need to obtain cash advances?
  • Are you without money in a savings account?
  • Do you owe more on your loan than your vehicle is worth?
  • Are you frequently late paying your mortgage or rent each month?
  • Do you have high medical bills which are not covered by insurance?
  • Do you owe income taxes which you cannot pay?

Note: If your answer is “yes” to three or more of these questions, you may need to file bankruptcy and should consider speaking with a bankruptcy lawyer to discuss your options.

Congress created bankruptcy laws to help people correct their problems honestly. When someone has serious financial issues, they owe it to themselves and their families to consider the options of bankruptcy.

At Advantage Legal Group, in Kirkland, Washington, we can help! We will provide you with a knowledgeable assessment of your personal situation and assist you in determining if filing for bankruptcy is the right option for you.

Do not hesitate any longer; take advantage of a free office consultation with an honest, caring, experienced bankruptcy lawyer. Please contact our law office today to set up an appointment!

Schedule a Consultation

Recent Posts

  • How Bad is Bankruptcy Really?

    How Bad is Bankruptcy Really?

    Filing for bankruptcy means telling the judge that you cannot pay off your debts. After this is done, the court checks your assets and liabilities then decides if you are eligible to have your debts cancelled or discharged. If it is seen that you have no means to pay back, they let you declare bankruptcy. […]Read More »
  • What Do You Lose if You Declare Bankruptcy?

    What Do You Lose if You Declare Bankruptcy?

    Before you finally go to the judge or court to file for bankruptcy, the major worry to have is what you stand to lose. It might be your house, property, a potential job, or client as the record of your bankruptcy is available to public access. Bankruptcy is the last resort when the debt starts […]Read More »
  • How Far Behind Do I Have to Be For Mortgage Forbearance?

    How Far Behind Do I Have to Be For Mortgage Forbearance?

    Under normal circumstances, there are policies owned by all lenders, and that is what you should be working with. However, if you are finding it difficult paying you mortgages either due to lose of job or increase in costs. There is a 15-day grace period, and if you are able to meet up and make […]Read More »
  • Can I Claim Forbearance 4 Months Into COVID-19?

    Can I Claim Forbearance 4 Months Into COVID-19?

    The whole world is facing a pandemic that is not just making life different for all of us but it is equally causing major financial problems for some individuals. Individuals and countries are facing financial hardship in this coronavirus crisis. Forbearance is when your lender or mortgage servicer allows you to temporarily pay your mortgage […]Read More »