The post-COVID world is seeing an unprecedented rise in bankruptcy cases across the country. Now that many of the COVID regulated bankruptcy stays have been lifted, and federal grant programs are no longer providing cash-on-hand, many people are filing for bankruptcy. Know that you are not alone in your financial crisis, and that if you’ve experienced any of these 4 things, you are in the most common situation for people needing a local bankruptcy law firm. These bankruptcy causes are some of both the most common causes of bankruptcy, but also the areas we, with David S. Clark, are the most familiar with.
DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.
Need Bankruptcy Help? Call David S. Clark
Medical Expenses
Medical expenses rank among the leading causes of bankruptcy nationwide. Even with insurance coverage, the financial strain of a serious illness or injury can be overwhelming for any family, regardless of how many bread-winners are in the home. When medical bills pile up, seeking guidance from a local bankruptcy attorney can provide clarity on your options and help you navigate the complexities of bankruptcy law with ease.
Job Loss
Losing a job or experiencing a significant reduction in income can send shockwaves through your financial well-being. No one plans on losing a job, but when it happens, it’s important to understand that there is still a path forward to financial recovery with a bankruptcy attorney that’s experienced in this sort of crisis situation.
Excessive Debt
The elephant in the room, excessive debt, whether from credit cards, loans, or mortgages, can weigh heavily on your financial health. If you’re struggling to keep up with monthly payments, consulting with a local bankruptcy attorney can provide insights into how bankruptcy can offer a fresh start and relief from overwhelming debt burdens. Many people have noble and good intentions for their debt. Owning a home is a noble pursuit, but many times people find themselves in a financial situation where the home they want isn’t the home they can afford. A bankruptcy law firm that’s familiar with the local real estate market can make a dramatic impact in the quality of legal services offered.
Divorce
Divorce or separation can bring emotional and financial challenges, often leading to bankruptcy for those involved. With local legal expertise, a bankruptcy attorney can guide you through the complexities of asset division, alimony, and child support payments, helping you protect your financial interests during this difficult time.
Even if your particular situation doesn’t line up with these 4 most common causes for bankruptcy, the experienced and professional help of the attorneys with David S. Clark can help you get back on your feet. As one of the highest rated attorneys in the Auburn/Opelika area according to Google, we are proud to offer our services to anyone that needs our help.
DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.