Wednesday, December 5, 2012

Regarding an Arizona Bankruptcy

Filing for an Arizona bankruptcy is a big decision and certainly not one that should be taken lightly. Generally, most people who truly need to file for bankruptcy and who will ultimately benefit from it experience some common “red flags” or indicators that bankruptcy is a good choice. One of the major signs that it might be time to start seriously thinking about bankruptcy is if you are in severe danger of losing your home or if it is already going into foreclosure. In many cases, if you act quickly enough, you can often stop the process and keep your property.

Another big sign that an Arizona bankruptcy might be the best choice is when your phone is ringing off the hook and your mailbox is stuffed with letters. We’re not talking about having an active social life and being popular, either—we’re talking about threatening, constant phone calls and letters from your creditors. When everyone is zeroing in on you and demanding payment you don’t have, bankruptcy is likely your best option. Garnished wages, only being able to make minimum payments on credit card bills, having to take out risky loans or cash advances that just get you even further in debt, and repossession of your property are other signs that bankruptcy proceedings might be in order.

Of course, every situation is different, so don’t make your decision based on this information alone. Instead, it’s best to visit with an Arizona bankruptcy attorney to discuss your situation and see what your best course of action is. The professionals at Dault Law will be glad to sit down with you, one on one, and help you to see what bankruptcy could do for you.

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