Finding a personal bankruptcy lawyer Plano TX for a Chapter 7 or 13 bankruptcy is a frightening thought for some, but the truth is, filing for bankruptcy is more common than you might think. Over 1 million people, just like you, file for bankruptcy each year. Although bankruptcy becomes a necessary option for a variety of reasons, some are more common than others.
Personal Bankruptcy Lawyer Plano TX: Top Reasons for Debt and Bankruptcy
Unexpected Job Loss
Unfortunately, more and more people lose their jobs every day. In fact, as of November of 2015, almost 9 million Americans were without jobs. As you may imagine, paying for bills, in addition to daily living expenses, becomes difficult, if not impossible.
While unemployment benefits are helpful, they typically don’t provide as much income as you are used to receiving. Over time, bills start piling up, the mortgage gets behind, the car is repossessed, and you’re left with sleepless nights wondering how you’re going to make ends meet. Fortunately, bankruptcy is often a viable and helpful option.
Poor Budgeting
Just about all of us have been there: buying expensive items, treating ourselves to dinners out, and living lifestyles that we really can’t afford. Although engaging in these activities is enjoyable at the time, it can leave us in serious debt, particularly around the holidays. Not sticking to a planned budget can cause you to spend the money you need for bills on other, more frivolous expenses. Doing this puts you and your family’s well-being at risk. Fortunately, with the help of a personal bankruptcy lawyer Plano TX, you may be able to escape your financial mess and start over again.
Medical Expenses
The cost of medical care skyrockets each year. As a whole, the American public spends 3 trillion dollars on healthcare, annually. Individuals spend almost $10,000 on medical bills every year. Unless you have an extra 10 grand to spend, you’re likely to find yourself in serious debt because of this expense, particularly if something goes wrong and you’re stuck paying even more.
Divorce
Getting divorced isn’t easy, or cheap. Along with the legal expenses divorcing couples have to pay for, they must also get accustomed to surviving on their own salaries, instead of having two to help. Although child support and alimony are helpful for the receiving party, it’s not always enough to make ends meet. Furthermore, the person who pays out the support and alimony often suffers financially as a result.
A Bankruptcy Lawyer Can Help
Imagine knowing there is a light at the end of the tunnel. Think about how much relief you will feel when you find out there is a way to lift your financial burden. With the help of a personal bankruptcy lawyer Plano, TX, you can resolve your finance problems and get back to living without so much stress and fear.
Collins and Arnove have helped many folks in the Plano area get the help they needed. We’d like to see if we can do the same for you. Contact us by calling 972-516-4255 and talk to one of our experienced and compassionate legal professionals about your situation.
Collins & Arnove | Personal Bankruptcy Lawyer Plano TX | 972-516-4255