Personal Injury
5 Signs That You Require The Services Of A St. Louis Bankruptcy Lawyer St. Louis residents struggling with debt often wait too long before speaking to a reputable bankruptcy lawyer. The reason for this is either due to the social stigma that surrounds bankruptcy in the past and the cost involved in hiring a lawyer. Fortunately, the stigma that previously surrounded bankruptcy is no longer a valid concern because many people do file for bankruptcy today. Bankruptcy consultations are usually free of charge today. With that in mind, there’s nothing stopping St. Louis residents struggling with debt from hiring a lawyer. 5 Signs That You Require the Services of a Bankruptcy Lawyer If you are not sure whether or not you require the services of a St. Louis bankruptcy lawyer, here are the five signs that you should look out for: 1. You Have a High Credit Card Balance The cost of living in St. Louis keeps rising and many residents have turned to credit cards to finance their lifestyle while paying just the minimum balance on those cards. While it is easy to keep up with this for a while, it usually is only a matter of time before the credit card balance exceeds a particular threshold where it may be unrealistic to pay off the full balance. If your credit card balance has been very high for a while and are unable to pay it off, you should consider talking to a bankruptcy lawyer. 2. You Have Overwhelming Unsecured Debt Overwhelming unsecured debt for many St. Louis residents is usually attributable to medical treatment costs. Business and divorce-related debt are another leading cause of unsecured debt for many residents. Whatever the reason, if you have a lot of unsecured debt that’s difficult to repay, it is important to consider bankruptcy such as Chapter 7 bankruptcy that a competent lawyer can help you with. 3. Repossession/Foreclosure If you are about to lose your vehicle to repossession or your home to foreclosure, you need to get in touch with a bankruptcy lawyer. Repossession and foreclosure activities must stop once your bankruptcy petition has been filed with the court. Simply put, filing a bankruptcy petition acts as an injunction against most collection activities, which include repossession and foreclosure. A bankruptcy lawyer may be in a position to save your home by filing Chapter 13 bankruptcy. 4. Harassment by Creditors If you are being harassed by creditors through threatening letters, calls, or through any other means, you need to get in touch with a reputable St. Louis bankruptcy lawyer for your free consultation. Filing bankruptcy can help stop these forms of creditor harassment. Filing bankruptcy can stop creditors from sending demand letters, making collection calls, or making any collection-related communications. The injunction against collection activities becomes automatic after filing for bankruptcy. 5. Borrowing from Retirement It is never a good idea to borrow from retirement accounts to repay your dischargeable debts. Today, almost everyone has a hard time saving enough money for retirement, which means that it is a bad idea to take money from retirement accounts that can be protected in bankruptcy to repay dischargeable debts. Use your money and time to save for retirement rather than taking years to repay your dischargeable debts. Final Thoughts Bankruptcy laws have been designed to help people when they are in financial trouble. The laws can help you eliminate your debts and get a fresh start in life without losing your home or vehicle. Get in touch with a competent St Louis bankruptcy lawyer today for your free consultation. Ledbetter Law Firm, LLC Address: 141 N Meramec Ave #24, St. Louis, MO 63105 Phone: (314) 535-7780 Find us on Google Maps https://www.google.com/search?q=Ledbetter+Law+Firm,+LLC+St+Louis+Missouri&kponly&kgmid=/g/1thz25_7
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