Three Times You Don’t Need to Work with a Bankruptcy Lawyer in St. Petersburg FL

There are plenty of times a bankruptcy lawyer in St. Petersburg FL can help you get your finances back on track. Unfortunately, some people over-react and file for bankruptcy when another option would have been better for them.

What are some times when bankruptcy probably isn’t your best choice?

1. You Have the Option of Negotiating Your Debt

Even if you’re struggling financially, bankruptcy might not be the best option for you. If bill collectors are willing to work with you and negotiate payments you can afford to keep up with, taking the drastic option of bankruptcy isn’t necessary. You can at least put filing on the backburner until things are sorted out.

2. Your Financial Situation is About to Change for the Better

There’s no reason to rush into bankruptcy if you believe your financial situation is about to change for the better. For example, maybe you lost your job and it led to falling behind on your debt payments.

But if you have a job on the horizon, you’re likely better off waiting for things to change and try to catch up at that point. In some cases, you can speak to your creditors and create an arrangement that allows you to fix problems before you’re facing bankruptcy.

If you aren’t sure whether bankruptcy is a good choice when you feel hope on the horizon, a bankruptcy lawyer in St. Petersburg FL can help you assess your situation.

3. You Don’t Have Financial Problems

This one might seem obvious, but you’d be surprised to learn that some people assume having debt means they should file for bankruptcy. The truth is, having debt isn’t bad. It only becomes negative when you cannot afford to pay the debt.

The good news is speaking with a bankruptcy lawyer doesn’t mean you must file. A reputable bankruptcy lawyer in St. Petersburg FL will offer a no-obligation consultation to review your situation and help you determine if bankruptcy is the best choice for you.