Do I Have Too Much Debt to Manage in New York City?

Most consumers in this day and age are living with debt, especially in a fast paced and expensive place like New York City.  Many of us rely on loans of one type or another and almost everyone has some revolving credit card debt.  Debt alone isn’t a bad thing, but too much of it certainly can be.  There is no crystal ball, but if you are having trouble paying your bills it might be time to ask yourself if you have more debt than you can manage.  If bad debt is consuming your life you should start thinking about your debt relief options including bankruptcy protection.  Filing bankruptcy is a big decision that comes with consequences, but living with toxic debt or selling your valuable possessions to pay off creditors usually ends up worse.

Consider your situation and be honest with yourself about your debt.  Are you still able to open new credit cards, or are your applications now being denied?  Are you paying the bills on time, or have you fallen months behind already?  Have you depleted your cash savings and about to dip into a retirement fund to pay your bills?  Are your creditors calling you day and night or perhaps already suing you? Are you actually paying your debt down, or are you barely making the minimums?

If you are robbing Peter to pay Paul, or constantly stressed out about your money troubles speaking to a bankruptcy attorney should be your next step.  If you are truly financially distressed bankruptcy will provide a fresh start and the complete elimination of the debts that have been keeping you down.  Many people that really need help avoid filing bankruptcy because they believe they will be left on the street, or that it is simply not the right thing to do.  Some believe bankruptcy is immoral, but the laws of this country and many religions of the world think otherwise.  If you are avoiding bankruptcy because you believe you have the moral duty to pay a toxic lender you are only hurting yourself and your family.  Do you really think the banks and credit card companies are losing as much sleep over your debt as you are?

Don’t let your health and your relationships suffer.  The uncertainty can be almost as bad as the debt itself.  Get familiar with your options and speak to a professional.  You may be able to avoid bankruptcy entirely, but the place to start is with a bankruptcy attorney, not an un-licensed debt relief scam.  Meeting with a bankruptcy attorney doesn’t mean you will be forced to file bankruptcy, but it will give you a professional understanding of your debt picture and relief options. For consumers truly in need of help the pros of bankruptcy almost always outweigh the cons.  Get the facts for your specific situation; it will at the very least give you some free peace of mind.  If you need advice from an affordable bankruptcy attorney in New York City please contact the Law Offices of William Waldner online or at 212.244.2882 to arrange a free consultation today.  Our law firm only practices bankruptcy law and maintains a 99% Chapter 7 Bankruptcy discharge record in New York City as of 8/31/16.

 **** DISCLAIMER:  This article is intended for educational purposes only.  By reading no attorney-client relationship has been created.  Prior results do not guarantee a similar result for future clients.