Reasons for Declaring Bankruptcy

Financial hardship can strike almost anyone for a range of reasons. A recent study from Harvard University revealed that 62% of personal bankruptcies in the U.S were the result of mounting medical bills. Other reasons for filing for bankruptcy include reduced wages or job loss, insurmountable credit card debt that can easily add up due to high interest rates causing cash flow problems that make monthly payments almost impossible to handle. Bankruptcy is not necessarily the result of overspending either and may actually be the best financial solution to a diverse set of escalating circumstances related to divorce, long standing student loans and unexpected expenses or monetary loss.

Resolving Your Debt Problems With a Indiana Lawyer

Understanding all of your options before filing for bankruptcy is the key to resolving debt problems. The Law Office of Terrence P. Kirby attorney at law offers legal expertise for Chapter 7 and Chapter 13 filings as well as providing clients with information on a full range of bankruptcy alternatives according to their specific needs. The secret to surmounting financial hardship lies in protecting your rights and exercising your best legal options. The Law Office of Terrence P. Kirby attorney at law provides you with a full range of personalized legal alternatives to bankruptcy that include:

  • Loan Modification to change the terms of a loan or reduce monthly payments.
  • Debt consolidation which merges all payments into a single debt and reduces interest.
  • Debt settlement that can result in a reduction of the total amount owed to creditors.

A skilled and experienced bankruptcy lawyer will work closely with you and negotiate the best possible financial arrangement with creditors on your behalf. Discuss your debt problems with The Law Office of Terrence P. Kirby attorney at law to give yourself some breathing space and a real chance at a brighter financial future.

Learn the Facts About Bankruptcy

Are you up to date with the most recent Chapter 7 and Chapter 13 legislation? Attorney The Law Office of Terrence P. Kirby is available to give you the straight facts and dispel the myths about bankruptcy during a free consultation at his Indiana office.

Bankruptcy Fact 1 – You will not lose all of your property when you file for bankruptcy. In fact, a skilled lawyer who understands the specifics of bankruptcy law can actually ensure that most of your assets will be exempted from repossession.

Bankruptcy Fact 2 – Bankruptcy will not ruin your credit for the rest of your life. Even though your credit has probably already suffered some damage at this stage, a Chapter 7 or Chapter 13 filing can be the most important step you can take to get back on track financially and rebuild your credit.

Bankruptcy Fact 3 – Don’t wait until you are desperate to file for bankruptcy. Even in the early stages of a financial crisis, filing for bankruptcy may be a much more sensible choice than liquidating retirement assets or taking out a second mortgage to pay off debt.

Bankruptcy Fact 4 - Filing For bankruptcy is not a sign of failure. Most bankruptcies are more the result of a reduced or stagnant income combined with increased expenses than the result of poor financial management. Take control of your finances by contacting The Law Office of Terrence P. Kirby attorney at law in Indiana for a free consultation.