Bankruptcy Law

How Do You Know it’s Time to File for Bankruptcy?

Many people struggle with money, no matter the age. Unfortunately, many also lack an understanding of their personal and/or company’s finances and end up in deep financial trouble.  Whether you are in severe debt or just late on a fee, money troubles can cause anxiety, and you may eventually have to consider filing for bankruptcy.

You shouldn’t have to deal with these severe financial problems alone, so attorneys such as those at Tesler and Werblood in Northern Virginia can help you decide the best path when filing for bankruptcy. These are some signs to watch for that may indicate that you need to consider filing for bankruptcy in Virginia:

  1. Paying Off Your Debt in the Near Future is Not an Option

Not being able to pay anything off for one statement period is bad enough, but knowing you won’t be able to in the foreseeable future is a sign that you may need to look into another financial approach. Filing for bankruptcy is certainly an option if you know you can’t pay your debts off.

  1. You Use Credit Cards and Loans to Pay Off Debts

If you are already borrowing money or taking out loans to pay bills, or carry a balance on your credit card, then bankruptcy may be an option. Continuing the path of borrowing will only increase your debt, so talking to an attorney about filing for bankruptcy may be the best option and a step in the right direction.

  1. Bills and Related Mail are Stacking Up

You should know there is an issue with your finances if your bills and mail from creditors continue to pile up in your house, so get an experienced lawyer to help you start over.

  1. You are Behind on Your Rent or Mortgage

Being behind on your rent or mortgage on top of all your other bills will cause more problems in the future, so consider filing bankruptcy and getting help from professionals.

  1. Creditors Continue to Call

Many people get calls at least some point from creditors and telemarketers. Some are a scam, and some are real, but regardless, call after call from a creditor about your bills may mean you need to look into talking to a lawyer in Northern Virginia about bankruptcy.

  1. Your Savings are Spent

Savings are meant to be kept safe to grow, put kids through college, spend on important household expenses, milestones, and more. If you have to dip into your savings to pay bills and other debts, you may want to consult with an attorney or professional about your financial options.

Ease Some of Your Troubles with a Bankruptcy Attorney at Tesler and Werblood

At Tesler and Werblood, we offer help with bankruptcy for both commercial and personal cases. Our experienced attorneys are highly familiar Virginia bankruptcy law, so you know you are in good hands with us during this tough time.

Call us at (703) 534-9300 to schedule an appointment to begin the bankruptcy process.