Are You Waiting Too Long to Seek Bankruptcy Relief?

Are You Waiting Too Long to Seek Bankruptcy Relief?

Sometimes our clients make a big mistake before they ever reach us: waiting far too long to declare bankruptcy. Waiting means your options for debt relief dwindle, and it means exposing yourself to unnecessary pain and stress as you continue to fight your creditors.

Often, this happens for one of two reasons.

Sometimes it happens because the client is scared. They’re afraid they’re going to lose their house, car, or personal property in the bankruptcy. They’re also afraid of other consequences. Few realize bankruptcy can actually help them protect these assets. While the process is not consequence-free, neither is it the end of the world. Most people who need to file bankruptcy and do so end up in better circumstances than when they began.

Sometimes it happens because the client is ashamed. But anyone can wind up having trouble with their finances. Some of the world’s most successful people filed bankruptcy at one point or another. Some have filed bankruptcy multiple times.

Here are a few questions you should ask yourself when you’re trying to determine whether it’s time to contact a bankruptcy attorney.

“Am I robbing Peter to pay Paul?”

Do you often find you’re alternating which bills are going to get paid late this month so you can try to keep yourself afloat? This is a big sign you’re completely financially overextended. And if you use credit cards to pay off other credit cards, you’re really in some serious financial trouble.

Bankruptcy can give you a fresh start which will allow you to reorganize your life in a way that helps you live within your current means.

“When’s the last time I paid anything other than the minimums on my credit cards?”

Paying the minimum on your credit card means you are barely touching the principal balance on that debt. You’re mostly paying interest.

Let this go on long enough, and you will end up paying way more in interest than you ever owed on the actual balance of the card.

“Am I paying for necessities with credit cards?”

If you have to use your credit cards to pay for your light bill, get groceries, or pay for your prescriptions, you’ve got a problem. For one thing, this situation isn’t very sustainable. Sooner or later you’re going to hit your credit limit.

A fresh start may be the only answer.

“How much money is in my savings account?”

If you can’t even get $1000 in your savings account you have a situation in which any emergency can push you right over the financial edge. It may only take one more blown tire, injury, or illness to ensure you simply cannot meet your obligations anymore.

Everyone needs a financial cushion.

“Are credit card companies starting to notice how much trouble I’m in?”

Sometimes credit card companies are pretty adept at spotting trouble, even before you start falling behind. If you receive a notice that your interests rates are being increased or that your card is being terminated, beware. Visa and MasterCard may be seeing something you aren’t.

And if you’re paying for necessities with a credit card that just cancelled, you’ve lost that resource.

“Am I in danger of losing my house or car?”

If you’re falling behind on your monthly mortgage or car payments it’s a good idea to call us right away. You may have options. Coming to see us right away gives you the best chance you have to retain these valuable assets.

“Has my financial stress become overwhelming?”

Are you and your spouse fighting about money constantly? Are you depressed or stressed to the point where you can’t concentrate on work or your children anymore? Do you feel like the phone never stops ringing because creditors are harassing you day and night?

At some point, continuing to fight your creditors ceases to make sense. If you don’t like the answers to any of these questions, give us a call today. We’ll take a look at your situation, discuss your options, and figure out the best move for your unique situation. You’ll begin feeling empowered to turn your life around instead of paralyzed and at the mercy of others. Remember, we you can speak to our offices 24/7 with one call.

 

GET YOUR FREE CONSULTATION

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SEEWHAT OUR CLIENTS ARE SAYING

Thomas Wright
Thomas Wright
15:09 24 Apr 18
Sadek and Cooper Law did a great job on my bankruptcy case. I really appreciate their assistant. Thank you
Kelly McKenna
Kelly McKenna
11:57 19 Apr 18
This form - specifically Yoninah Orenstein and Patrick Cooper are PHENOMENAL. They were great to work with, very fair with legal fees, and successful in getting an excellent settlement for my divorce (short term marriage
Dessiana Cruz
Dessiana Cruz
13:11 04 Apr 18
I was nervous about bankruptcy, but from the moment I stepped in your office I felt at ease. This process was so easy with your help, that yesterday I was talking to my coworkers about it and recommending your firm to them. You make something that’s scary seem easy and I thank you so much for helping me!
Valerie Nesbitt
Valerie Nesbitt
14:51 03 Apr 18
Sadek and Cooper have been excellent. Everyone has been extremely helpful and patient. The lawyers I have worked with, Matt and Brad, are extremely knowledgeable. I felt very comfortable with them handling my case.
Marlena Lucas
Marlena Lucas
16:08 02 Apr 18
Very simple. Any time I had questions, they were answered quickly. The lawyers are just great. Just a fast painless process.
James Smith Sr
James Smith Sr
13:19 14 Mar 18
Everything has been great. Really awesome job with my case... You and your staff have done a perfect job in my opinion.
Michkel Davis
Michkel Davis
17:02 09 Mar 18
Mr. Sadek was the best and most thorough lawyer I’ve ever met. He’s very human and caring about our case. His whole staff is great too. Highly recommend...
Tamika Richardson
Tamika Richardson
14:56 01 Mar 18
My bankruptcy went very smoothly with your firm. No issues. You are all very nice. That’s why I recommend my sister to your firm and your now helping her too! Thanks again.
Geraldine Ross
Geraldine Ross
14:14 28 Feb 18
This is an Excellent firm to work with; my questions were answered in a timely manner and I felt very supportive in handling my bankruptcy. I would highly recommend this firm to others who have found themselves in a position like mine.
Lavern Baker
Lavern Baker
17:03 23 Feb 18
You are all super lawyers. Brad and Matt made me feel comfortable. Every one in your office so nice and just made it easy. You’re the best!
peter b
peter b
19:42 21 Feb 18
Thank you, Sadek and Cooper Law offices for your dedication on my behalf. I appreciate Matthew and Patrick and your staff and all that everyone did to support me in this legal matter. You took an embarrassing, sad experience, for me, and turned it into a successful solution without all the emotional pain expected. After dealing with a loan modification company for over eighteen months without going to an attorney first that is the biggest mistake anyone can make. The Modification Companies set out to sell you lies, broken promises and dilute the homeowner's assets with no knowledge of any kind of law. I can't stress enough stay away from Modification companies, as a Military Veteran and family man, protect you or your family best interest. Go directly to Sadek and Copper you will not regret it! This firm moves with Super speed and diligence protecting you and your family's the entire process, even after watching some of these other attorneys in the courtroom appearing to mishandled their clients’ cases before the Trustee. You made it easy and I’m finally getting my financial life back on track! Thank you for your prompt replies to me, your clear information and preparation needed when at the courthouse. I would of course recommend you to others and I am glad you were the one who had my case. Kind genuine law firm who treats you like family. God bless you all and I pray for your continued success in your field of expertise. This firm is Super Lawyers for a reason. They are the best at what they do! Pete
Doug Tinlin
Doug Tinlin
06:55 15 Feb 18
Brad Sadek gave me hope when he decided to handle my mortgage for enclosure defense. I had exactly 10 days left of the 30 days ultimatum given me, but he was able to bargain for an extra 30 days for me to pay up. That duration turned out just right.
Jacinth Jacinth
Jacinth Jacinth
16:07 31 Jan 18
Excellent service. Brad and Matt were outstanding and friendly. They helped me through this. I’ve never met attorneys like these. Thank you!
julie njoku
julie njoku
12:29 24 Jan 18
Brad Sadek is excellent!. He understands and he's fair. You feel like you have someone fighting for you. The staff is friendly, professional, and courteous. These guys are the best at what they do !
Owen Black
Owen Black
20:14 09 Jan 18
Thanks for the great service! I would recommend this firm highly. Throughout the years I have been helped by this firm greatly and very much appreciated.
Steven Rychalsky
Steven Rychalsky
15:30 09 Jan 18
Sadek and Cooper law office was a wonderful experience to work with. Bankruptcy is a difficult experience but they helped with the stress so much and made it easy. I would recommend Sadek and copper too anyone.
Chris Kourelias
Chris Kourelias
19:09 28 Dec 17
Working with both Brad & Matthew was a pleasure. Both gentlemen are extremely knowledgeable and helpful in providing me the right assistance needed to make the correct decision to benefit me in the long run. I would recommend both candidates to anyone looking for assistance with a reputable law firm.
Jennyfer Santana
Jennyfer Santana
21:17 21 Dec 17
Highly Recommended. Matt & Brad assisted with my case. I felt comfortable throughout the entire process. Matt was very understanding, patient, and ensured he answered all my questions! Both great guys and very friendly! It was a pleasure working with Matt and Brad.
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