Bankruptcy Warning Signs
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There are a number of financial warning signs that may indicate that you should consider bankruptcy as a method of debt relief. They include:
- Foreclosure or repossession - Facing the loss of your home or vehicle is a sign that you are significant financial trouble
- Maxing out credit cards or charging more than you are able to pay off - It is advised that you use no more than 40% of your available credit at any one time, as this gives you a safety net in the event of job loss, illness, or divorce
- Lack of an emergency fund - If you live from paycheck to paycheck and are unable to accumulate savings for emergencies, you may want to consider bankruptcy
- Lack of health insurance or adequate coverage - Medical bills brought about from sudden accidents or illnesses are a factor in one in five bankruptcies
- Paying only the minimum balance on your credit cards - Paying the minimum balance on a credit card can translate to 20 or 30 years of payments before the credit card is paid off. If you are only able to pay the minimum balance, it is likely that your financial situation is unviable
At Kovacs Law, P.C., we have assisted many individuals and their families through bankruptcy, and we are familiar with the warning signs that indicate that someone may be close to bankruptcy. If you believe that bankruptcy may be your only option, contact an attorney at our firm today. We will provide you with the advice and information you need to make an informed decision in your case.
Acting Quickly in Your Bankruptcy Case
If you have recognized that your financial situation has become untenable, it is important that you take action to correct it now, rather than waiting to see if it gets better. In pursuing bankruptcy immediately, you will likely have a swifter and easier filing process than if you had waited for your financial situation to become even worse. Being proactive about your finances will increase your chances of becoming debt free in a reasonable amount of time. Remember, we are here to help!
If you are experiencing the warning signs of serious financial struggle, contact an attorney right away for help.
Real Stories From Real People
Hear It Directly From Our Clients
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“Bankruptcy expert very easy to deal with, friendly service, took care of all Communication and scheduling with the courts. I didn’t have to deal with anyone but him. I really enjoyed dealing with him.”- Colin D.
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“If you need someone to be straight forward with you, tell you like it is, and help guide you through the bankruptcy process, this is the guy. We are very thankful!”- Christina P.
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“Very thankful to Robert and his office staff. Very professional and thorough and I would highly recommend Kovacs Law, P.C.”- Michael K.
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“Mr. Robert Kovac did an excellent job with my parents bankruptcy case. The year process was easy and stress free and he helped us in every way.”- Carolina R.
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“Due to Robert's compassion, I no longer have the stress and worry about my finances. Thank you, Robert, for giving me my life back!”- Lynn C.
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“He walked me through the bankruptcy steps slowly and answered all of my questions. Even on days he was clearly extremely busy, I never felt rushed with him. Would recommend, 100%.”- Nina G.
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“His very attentive and shows empathy towards his clients and does not treat you just like another case load.”- Nuh M.
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“Robert Kovacs and his firm did a thorough job and I was completely satisfied with him and his staff. He handled all the details and there were no surprises.”- Elizabeth
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“From the time I started my process to the time it was finished I was always treated with respect and consideration.”- Former Client