Life can throw many things at you, and it can be hard to bounce back sometimes. If you’ve opened credit based on your income, such as buying a home or a car, and then lost your job, keeping up with all your bills can be difficult to do. If you can’t find a new job quickly enough, you can easily find yourself falling behind on bills. You may have to choose which ones to pay each month so you can keep a roof over your head and the electricity turned on. Credit cards may have missed payments, and creditors may start calling you. Does this sound familiar? For many people, it is.

In cases like these, bankruptcy may be an option. The two main ways a person can go through bankruptcy depend on their current income and assets. If you’ve suffered a drop in income, you may be able to have your payments restructured so that you can pay them off in easier payments over a period of three to five years. If you don’t have the ability to do this, you may have to sell some of your assets in order to cover the bills. A Bankruptcy Attorney in Arlington TX can review over your financial situation and help you to figure out which of these options would best apply to you.

Along with getting your finances straightened out, you will be able to get relief from the collection calls and stress of being behind. Collectors will have to work with your attorney to make sure they are paid through the bankruptcy, so they are no longer allowed to call you and demand payment. Also, in many cases no new collections are allowed to be started until the bankruptcy is completed, so you won’t have to worry about new creditors starting to call you.

If you’ve found yourself falling behind on your bills because of a job loss or lowered income, you don’t have to deal with the collection calls and the stress of figuring out how to cover your bills each month. A Bankruptcy Attorney in Arlington TX, such as David S. Kohm, may be able to help you get out from the mounting debt. By calling today you can start the process to get your finances back in control. Visit website for more information.

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