Have you made a New Year's resolution to get your finances in order in 2021? Maybe you lost your job as a result of the COVID-19 pandemic and shutdowns. Or, maybe you relied heavily credit cards as you tried to make ends meet for your family, and now you are feeling overwhelmed by debt. At The Page Law Firm, we realize that the road to financial recovery may include filing for bankruptcy.
Of course, the decision to file for bankruptcy is not one that is easily made. Moreover, the days, weeks, and months following the decision can also be difficult. There may be feelings of fear or concern. Fortunately, we are here to help alleviate some of that stress by providing the guidance and assistance you need.
Start by Contacting an Attorney
While there are many steps to take during the bankruptcy process, your first should be to contact an experienced bankruptcy lawyer. Not only does this help you prevent missteps during the bankruptcy process, it can expedite the next steps. Contacting our firm can get you on your way to less stress from the creditor calls and collection letters.
Cancel Your Automatic Payments
If you are like most consumers, you have a number of automatic payments that are drafted from your account. Some might be for subscriptions, and others might be with creditors, but all should be stopped. This can help you start to step forward and manage your debt more responsibly. Doing so also gives you more control over what you are paying in the weeks leading up to the bankruptcy filing.
Start Working on Your Budget Now
Although you will have opportunities with your attorney to develop a sound budget, the best time to implement one is right at the start. This gives you the power to start watching what you are making, and what you are spending. Ultimately, this helps you determine which bankruptcy option may be most suitable for your situation. Further, it gives you the chance to start practicing the skills you will need during and after the bankruptcy process.
Watch Out for Frozen Funds, Seizures, and Repossessions
While the bankruptcy process does stop the collection process, there is still a lot that can happen until you have actually filed your case and have bankruptcy protection. For example, if your creditors have judgments against you they may attempt to freeze your bank account to gain access to your funds in order to collect on the judgments or they can take certain assets.
Why Choose Our Experienced Frisco Bankruptcy Lawyer?
With more than 30 years of experience, Attorney Théda Page is a bankruptcy lawyer you can trust. At The Page Law firm, we strive to help you make the most of your fresh start and provide not just counsel for the process but also guidance for the future. We give you the tools you need to make the most of your fresh start. Learn more about how our Collin County bankruptcy attorney can assist with your case. Call 214-618-2101 and schedule your consultation with us today.