Logo

5 Most Common Reasons for Bankruptcy

Posted on : January 5, 2017
tyler ankruptcy lawyer

Making the decision to file bankruptcy is never easy. In many cases, bankruptcy is the best option for individuals and families experiencing extreme financial difficulty. Here are the five most common reasons for filing bankruptcy and how to get sound advice when you’re overwhelmed with bills and financial challenges.

1. Job Loss

Unemployment can come when you least expect it and can have a significant impact on your family’s financial status. If you don’t have an emergency savings or can’t find another job, you put your rent or groceries on a credit card.

2. Stopping the Foreclosure of Your House

If you are threatened with foreclosure yet cannot get back on track with payments, consider bankruptcy to stop the foreclosure and keep your home.

3. Stopping the Repossession of a Car

Just like a bankruptcy will stop a home foreclosure, it will also stop the repossession of a car. You can file for bankruptcy and keep your car if you file for a Chapter 13 bankruptcy. Then, any missed payments are added to your bankruptcy plan.

4. Illness or Accident

Often times, people who suddenly become ill or injured in an accident face unexpected medical bills. These bills can spiral into a financial crisis. Whether medical bills burn through a small savings quickly or no savings existed, a serious illness or injury can cost hundreds of thousands of dollars. In some cases, a family may file a Chapter 7 bankruptcy to have the medical bills reduced or even discharged entirely.

5. Stop Creditor Harassment

Creditors are ruthless when collecting on a debt. So, if you owe multiple debts, you’re likely getting accosted every time you turn around. When a bankruptcy is filed, an automatic stay goes into effect and creditors must halt all collection activities. This gives families inundated with bills a reprieve from the constant calls and letters.

Carefully evaluate whether bankruptcy is the right choice for you. At the Law Office of Howard Tagg, we’ll go over your case in detail with you to help you come to a decision about filing bankruptcy and if so, what type would be most beneficial to your situation. If you’re experiencing financial stress, don’t hesitate to call us for a consultation at (903) 730-6366.

Posted in : Administrator Tyler

28 responses to “5 Most Common Reasons for Bankruptcy”

  1. Anna Scot says:

    Writing, like great art requires much more than knowledge and education. A great writer is born as opposed to “”made”” and you are a great writer. This is excellent content and interesting information. Thank you.

  2. KelTheoni says:

    Buy Dapoxetine Online No Prescription viagra Viagra Mail Order No Prescription

  3. KelTheoni says:

    Propecia While On Ipledge viagra Avec Clomid

  4. KelTheoni says:

    Durer Plus Longtemps Pour Les Hommes cialis price Propecia Asexual

  5. KelTheoni says:

    On Sale Online Worldwide Stendra 100mg Legally cialis Canadaphamacy

  6. ChasHalF says:

    Propecia Contraindications Androgenetic Alopecia generic cialis Alli 170 Count Sale

  7. KennHego says:

    Brand Cialis And Levitra online pharmacy Olanzapine

  8. KelTheoni says:

    Ou Commander Du Levitra cialis Keflex Cost

  9. ChasHalF says:

    Levitra Online Paypal buy viagra Buy Zentel Tablets

  10. KennHego says:

    Pediatric Zithromax Dose cialis buy online Viagra Or Cialis With Works Best

  11. ChasHalF says:

    Viagra Low Cost online pharmacy Cipro And Amoxicillin 12 Hours Apart

  12. KennHego says:

    Cialis Jeune cialis price Zithromax Patient Education

  13. KelTheoni says:

    Discount Cod Only Macrobid Shop Free Consultation generic cialis Viagra Cerebro

  14. … [Trackback]

    […] There you will find 81127 more Infos: tylerbankruptcylawyer.com/blog/uncategorized/5-common-reasons-bankruptcy/ […]

  15. ChasHalF says:

    Kamagra Oral Jelly Mauritius viagra online Cephalexin Shortage In Canada

  16. Reviahox says:

    http://phartesdomusa.org/ Buy Generic Revia online australia

  17. … [Trackback]

    […] Read More on|Read More|Read More Infos here|There you can find 2104 additional Infos|Informations to that Topic: tylerbankruptcylawyer.com/blog/uncategorized/5-common-reasons-bankruptcy/ […]

  18. KelTheoni says:

    Priligy Preis Apotheke buy viagra Cialis Efectos Adversos

  19. cpns 2017 says:

    … [Trackback]

    […] Find More here|Find More|Find More Infos here|Here you will find 9795 more Infos|Infos to that Topic: tylerbankruptcylawyer.com/blog/uncategorized/5-common-reasons-bankruptcy/ […]

  20. Nicely lke Mommy said, when we love each otһer and love the
    world that Jesus ɗied for, that?s a form of worship. Wһen we take
    into considеration Godd and hearken to the sermmon or
    in Sunday School, that?s a way of worshipping as a
    result oof wee arre learning how great God is and Hе
    likes tһat. Or once we sit round aand infform each other what the greatest
    issues about God are. You know the way mucһ you like һearing folks say how good or cure yoսu boys are?
    Effectively Gοd likes once we talk collectively about
    how great he is.? Daddy answered.

  21. It has in no way been easier to opt between the interpretation services, as all bloke opinions and testimonials are gathered in one
    see fitted you to pick the best. Levant awful je sais quoi and
    as a conclude wretched experience by means of consulting any transmission website reviews.
    Utterly written testimonials will manual you through the
    activity of selecting the entire and purely
    transfiguration usefulness that will-power fit your needs.

  22. … [Trackback]

    […] Read More on|Read More|Find More Informations here|Here you will find 58443 additional Informations|Informations on that Topic: tylerbankruptcylawyer.com/blog/uncategorized/5-common-reasons-bankruptcy/ […]

  23. publicidad para lineas 806 tarot sofia vilar jugar al tarot del
    amor horoscopo geminis amor tarot amigo
    tirada de hoy tarot gratis tirada de tarot para acuario hoy tarot gratis para
    libra 2015 tarot si o no oraculo rey misterio ver el tarot del amor gratis consulta tarot amor significado de tarot el sol numerologia taroteca tarot de amor
    para hoy gratis tarot del amor 3d los arcanos gratis tarotistas de aura tv tirada
    de cartas tarot marsella gratis tirada de cartas de tarot
    del amor horoskop tarot wodnik dzienny cartas de tarot
    numero 11 tirada delas cartas del tarot gratis en linea realizar preguntas al tarot
    gratis tarot mensual marzo 2015 buenos tarotistas en bilbao tarot adivinatorio
    porvenir tarot losarcanos amor tarot amor josnell sol lectura gratis del tarot egipcio numeros de
    las cartas del tarot de marsella horoscopo tarot diario
    gratis tarot de las hadas pdf tarot que siente por mi mi
    ex combinacion cartas tarot emperatriz tarot josnell trabajo tirada gratis de tarot del dia de hoy tarot gratis del amor y
    trabajo cartas de tarot de amor alicia galvan tarot
    virgo hoy amor tarot telefonico gratis en argentina coral
    tarot asturias tarot divination crowley pdf carta del dia tarot gitano gratis cartomancia adivinacion tarot oferta tarot
    visa barata cartas del tarot del amor en femenino significado de la rueda en el tarot libro abierto una tirada de tarot te revela tu futuro
    amoroso gratis leer tarot en linea tarot gratis pareja tarot alba
    dorada ana clara tarot sms

Leave a Reply

Your email address will not be published. Required fields are marked *

*