How to Determine If Bankruptcy Is Right for You

bankruptcy

Bankruptcy is a complicated process that will make you go through a plethora of options before you make a decision. The highlight is that you can get an attorney from Pronske & Kathman, P.C., to help you with the case. The expert will have a closer look at your debts and assets to give you the best solution.

Checklist to Show that Bankruptcy is the Solution
As a client, Dallas bankruptcy attorneys can give you the go-ahead to file for bankruptcy under specific circumstances. As an expert, the lawyer will exhaust all options so that you can make the best decision. Therefore, bankruptcy can be ideal for you under the following conditions.

• The chances are low that your financial situation will improve.
• You don’t have valuable assets or equity in your residence.
• You can’t seem to find an alternative method to pay off your debts.
• Creditors have started suing you since you can’t clear your debts.
• You are using one of your credit cards to pay off the other.

When Bankruptcy is Not Suitable for You
Some instances will not allow you to file for bankruptcy since you don’t qualify. For example, if you are in debt, and you don’t want the situation to ruin your reputation, you are not eligible for the process.

In addition to that, if you have large amounts of money in your pension, bankruptcy is not an option. If you expect to inherit some property within a short time, you can’t declare yourself bankrupt.

Why You Should Hire an Attorney
Dallas bankruptcy attorneys are crucial since the legal experts can help you prepare the necessary documents for the case. The professionals from Pronske & Kathman will give you the ultimate solution to ascertain if bankruptcy is right for you. They will represent you during court hearings and ensure that you achieve your goal.