Filing for bankruptcy is a major decision, but for many people in Greensburg and Westmoreland County, it’s a necessary step toward financial peace of mind. If you're overwhelmed by debt, facing lawsuits, or falling behind on essential payments, you might be asking: Is it time to talk to a bankruptcy attorney?
Here are five warning signs that you should seriously consider bankruptcy.
1. Using Credit to Cover Basic Expenses
If you're regularly using credit cards to pay for groceries, gas, or utilities, that’s a sign your budget is stretched too thin. Bankruptcy may help you eliminate high-interest credit card debt and reset your finances.
2. Constant Calls from Debt Collectors
Collection agencies calling your phone every day? Letters piling up? You’re not alone. Filing bankruptcy in Pennsylvania immediately activates an automatic stay, stopping all collection calls, letters, wage garnishments, and lawsuits.
3. Late on Your Mortgage or Car Payments
Falling behind on your mortgage or car loan in Greensburg puts your home or vehicle at risk. Chapter 13 bankruptcy lets you catch up on missed payments while keeping your property.
4. Only Paying the Minimum on Credit Cards
If you're stuck making minimum payments that barely cover the interest, you may never get out of debt. Chapter 7 bankruptcy can wipe out unsecured debt like credit cards and personal loans, often in just a few months.
5. Facing a Lawsuit or Garnishment
If a creditor has sued you or is garnishing your paycheck
