Most adults have been in debt before and are familiar with how stressful even a small amount of debt can be. Once you’re in debt, it can be difficult to get out of, and it can start to go quickly, making it impossible to fix. If you have uncontrollable debt and don’t know what to do to get out of it, you’re likely feeling extremely overwhelmed, and you might be losing hope. While this is a tough situation to find yourself in, there are still options. If you can’t pay off your debt, bankruptcy might be the best choice. 

Are you in debt and wondering, “when is filing for personal bankruptcy the best option?” Learn more to see if filing for bankruptcy is right for you. 

If You Struggle with Certain Types of Debt

You might not know it, but bankruptcy doesn’t help with every debt you have. Because of this, bankruptcy isn’t right for everyone, even if they have extreme debt. Some debts that bankruptcy can’t help with include student loans, taxes, alimony, and child support. While bankruptcy can’t help if you owe debts like these, it can discharge many types of unsecured debts. This includes debt from credit cards, medical bills, personal loans, utility bills, and more. If you’re considering filing for bankruptcy, be sure that your debt is dischargeable. Otherwise, it can’t help you. 

When You Rely on Credit Cards 

Credit cards can be a great resource if you can use them correctly. However, many people struggle with this, and credit card use can get out of control quickly. When this happens, it can become impossible to get out of debt. If you rely on credit cards to pay for your basic needs, it could be time to start looking into bankruptcy. Continuing to rely on credit cards will only continue to worsen your debt and ruin your credit, and bankruptcy can give you the fresh start you need to get away from your credit cards. 

Creditors are Taking Serious Action 

Getting calls from creditors can be stressful, especially when you’re doing everything you can to pay back your debts. This is something many people experience, but it can get worse as your debt grows. You might start to feel like you’re constantly harassed by phone calls from creditors, which only makes this situation more stressful. While this is bad enough, it can get even worse. You could be at risk of having your car repossessed, your home foreclosed on, your wages garnished, and creditors may take legal action. If you’re being harassed by creditors or are worried about the lengths they may go to, bankruptcy can help. 

See if a Bankruptcy Lawyer Can Help

Deciding to file for bankruptcy can be challenging. This is a big decision to make, and you might not be able to decide on your own if it’s the best thing for you. Being in serious debt and considering bankruptcy is an extremely stressful situation to be in and isn’t something you want to deal with on your own. Getting help from a bankruptcy lawyer in Stroudsburg, PA, can make this process much easier for you and help ensure that you’re doing the right thing. JPPLaw is here to help those struggling with debt and considering filing for bankruptcy.

JPPLaw can help you weigh the costs and benefits of bankruptcy. Contact Attorney Jason P. Provinzano for a free consultation to learn more.