As a debtor filing bankruptcy, or merely thinking about filing for bankruptcy, you fully must have had the understanding that bankruptcy is a debt relief remedy that must always be thought of only as a last resort remedy - that is, only AFTER every other practicable option available shall have been considered, tried or been exhausted. However, as a consumer who owes serious debts, there must come a time along the way in your financial life when you are so deep into debt that you must wisely begin to consider the real possibility of filing cheap bankruptcy, or to seriously consider yourself a legitimate candidate for bankruptcy. As well as, of course, the consequences of bankruptcy
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According to financial experts, certain specific signs should sound as clear classic warning to a wise and informed debtor that he or she is perhaps right in the middle of such a time. The following problems are some of the classic signs which signal to a debtor that it may be time to start giving serious thought to and thinking about the real possibility of filing bankruptcy. As well as the consequences of bankruptcy, if he were to file one.
What are some of the Serious Signs to Begin Thinking about Filing Cheap Bankruptcy? Or, the Consequences of Bankruptcy?
See if you face some or all of these situations?
• Your wages have been garnished or your bank account has been attached, or is about to?
• Most of your debts are unsecured debts like credit card bills, hospital or doctor's bills, etc?
• Your total debt, even if you were to exclude your car or home loans (which are debts you can least afford not to repay, if you can at all help it), is more than you could possibly pay off even over several years?
• Your missed or unpaid back payments on your car loan or home mortgage is more than you could catch up with even in 6 months or one year?
• Collection agencies are calling you at home and/or at work, day as well as night?
• Your payments are more than 30 days behind on more than one, two, three or more bills?
• There are lawsuits pending against you on monies you borrowed or obligations you fail to meet, such as child support or alimony, traffic tickets, etc?
• You have piled up high medical bills not covered by insurance?
• You owe income taxes that you are unable to currently pay?
• You have just a few assets?
• Long depleted out of your making debt payments, you now have little or no savings?
• Your debt and financial situation is causing you emotional distress or depression?
• You face imminent foreclosure on your home mortgage, or an eviction by your landlord, and you're worried stiff about losing your home, or losing your car, which is, say, an item you must have because you need it to get to your job?
• You have had some property of yours repossessed already (such as a vehicle)?
• And, perhaps, even more and more and more debt-related problems....?
Are you, in short, facing the financial crisis of your life, one that now seems overwhelming - such as most or all of those listed above? If you are in such dire financial hot waters or virtual hell as are listed above, time to experts say these are classic signs that you should start giving serious thought and consideration to the real possibility of filing bankruptcy as a remedy, as well as the consequences of bankruptcy, if you were to file one.
Sorry, But you're Just About On your Own in this One!
But, guess what? As a practical matter today, the worse aspect of all is that, all these horrible circumstances notwithstanding, if you are faced with any one of a score of prospects like these, you will suddenly but shockingly discover that you are all ALONE and that there is no one out there to help you. Yes, you'll find that you are all on your own - a dire reality that seems, actually, to be one of the major unfortunate results that have emerged out of the draconian measures of the new bankruptcy "reformed" law of 2005, the Bankruptcy Abuse Prevention and Consumer Prevention Act or BAPCPA law!
Yes, if you were to find yourself in such a sorry situation, you'll find that not much help is out there for you. Not from the bankruptcy lawyers. Since the 2005 BAPCPA law, their average fees for doing the simplest form of personal bankruptcy, Chapter 7 bankruptcy, has now skyrocketed to an average of $2,500 (up from around $1,200 before the 2005 law), and to about $4,500 for filing Chapter 13 bankruptcy. And, certainly, you can't find any help from the current operating bankruptcy law. The new law is, in the first place, apparently the principal reason the lawyers' fees for bankruptcy have dramatically shut up since October 2005, as it places several hurdles on the path of the consumer which the consumer must now scale before her/she may even be eligible to file for bankruptcy, the overall net result of which has been that it is now generally more difficult, more complicated and far more costly today, for a debtor to file for bankruptcy to free himself or herself of his/her past debts.
NEED FOLLOW-UP INFORMATION?
So, what if you were to be experiencing some of these classic signs which seriously tell you that you should start giving serious thoughts and consideration to the real possibility of filing bankruptcy as your debt remedy, and the consequences of bankruptcy for one who files one, how do you find affordable bankruptcy?
Fortunately for debtors, there is available today at least one major legally-approved, inexpensive, dirt cheap way for effectively filing for bankruptcy that almost every debtor can afford. It's basically a filing method using a good Debt Relief Agency or Bankruptcy Paper Preparer (BPP) that's federally-approved, to do the bankruptcy paperwork for you at low cost. For information on how to be sure to find a good, competent, proven, trustworthy, Debt Relief Agency or BPP, please visit this site: http://www.afford-bankruptcy.com
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