Is A Miami Bankruptcy Right For You?

Even without the economic crisis that recently occurred

, it's not uncommon for individuals to be in a situation where they're considering a Miami bankruptcy. This occurs for a number of reasons, including a sudden loss of income, illness or injury, foreclosure, increased debt, and undue stress, to name a few. Bankruptcy is not the right choice for everyone, so it's important to look at several factors, and to consult with a Miami bankruptcy lawyer before deciding if it's right for you:

Are you more than a couple months past due on your debt payments, especially your mortgage? A good bankruptcy lawyer will ask this question up front. If you're more than a payment or two behind and at risk of foreclosure and repossession, then a bankruptcy lawyer may agree that bankruptcy might be the right option for you.

Bankruptcy may be considered if you have no income coming in and your debt is excessive. If your debt keeps piling up and you don't see any other way out, then you may consider bankruptcy in Miami, especially when you don't have anyone else to turn to that can help you out financially (and even if you did, you may not want to).

Bankruptcy may be an option if it allows for less stress in the long run. Another factor to consider is if the stress of the debt is worth the risk of your health and sanity in the long run? If you're constantly dealing with creditors and the 'heavy' feeling of not being able to pay your bills, then the stress can be very painful and hard on your body. For some, bankruptcy can bring a lot of relief in way of being able to focus on getting back on track financially.

Who does your situation impact? Are you going through this alone, or do you have a spouse and/or family? If you have loved ones, remember that what you are going through also effects them. We all know that stress can kill, and are your financial troubles really worth your death or the death of a relationship? Speak with a bankruptcy attorney before it is too late.

However, if none of these options are feasible for you, then you and your Miami bankruptcy lawyer may agree bankruptcy is the best option for you. You want to make sure you're confident and comfortable with your attorney's recommendations when it comes to filing for bankruptcy, as well. If you're not, then it might not hurt to get a second or third opinion from other bankruptcy attorneys. After all, this is your credibility and livelihood we're talking about, so you want to make the right decision for you and your family.

by: Mike Lewis.

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