No one jumps for joy at the idea of filing for personal bankruptcy protection. Even so, it may be the most practical decision to make. What motivates people to take that step and schedule a consultation with a bankruptcy attorney in Rockford, IL? Here are a few of the more common reasons.
It’s not unusual for people to try all sorts of strategies to restore financial stability. They may work second jobs, cut expenses, and maybe even make a little progress. The problem is that it’s not enough, and things continue to get worse. At that juncture, seeing what bankruptcy protection can do is a good idea.
Others seek help from a bankruptcy attorney in Rockford, IL, after an abrupt change in their financial states. That may happen due to a divorce, unexpected medical bills, or even an accident that makes it impossible to keep working. Seeing if bankruptcy can ease financial worries may be the only real solution.
Finally, things have escalated to the point that creditors are threatening legal action. When there is no longer room for negotiating settlements, bankruptcy may be the only remaining solution.
Bankruptcy is not the answer for everyone. During the initial consultation, the lawyer will administer a means test to see if you qualify. Assuming that you do qualify, the lawyer will go over all personal bankruptcy options and answer any questions that are on your mind. By the end of the initial consultation, you will be in a position to make the choice that’s best for your situation.
For more information, please contact the Crosby Law Firm today.
