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Signs you may want to consider filing bankruptcy Atlanta, GA

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Signs you may want to consider filing bankruptcy

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Money problems don’t typically develop overnight. They often start small with a missed bill or unexpected expense. However, that one small issue can turn into a very big problem that seems to take over a person’s life when fines, penalties and missed payments stack up.

There are many people who deal with financial struggles on a regular basis. Every month, they try to figure out how to pay a mortgage, credit card bills, utilities and other expenses, but there is simply not enough money to cover everything. For some people, these issues are short-term or isolated events; for others, there seems to be no end in sight to the financial strain. 

In order to determine if debt is headed toward being unmanageable, people will want to consider some common signs that bankruptcy may be necessary to tackle debt. These signs include:

  • Spending 20 percent of your income or more on paying down debt
  • Being unable to cover essential expenses with existing income
  • Signing up for more credit cards to pay off other cards
  • Only being able to making minimum payments
  • Missing payments repeatedly
  • The absence of a financial safety net, including a savings account
  • Receiving and avoiding seemingly non-stop calls from creditors
  • Being afraid to open bills or check bank statements

Dealing with even one of these issues can be difficult enough, but when several of these signs are impacting someone on a regular basis, it could be necessary to reach out for help to tackle financial troubles.

If financial pressures and anxiety have become too intense for a person to deal with, it can be time to consider taking serious action to deal with debt. One resolution that may be a good way to do this is filing Chapter 7 bankruptcy. This is an aggressive solution that can permanently wipe out debt, and it may not be right for everyone. Discussing the details of an individual situation with an attorney can be a good way to determine if Chapter 7 or another type of bankruptcy protection is appropriate.

Source: Orange County Register, “Overextended credit and personal bankruptcy,” Cathi Douglas, Jan. 2, 2015

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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