Whether they're worried about their credit rating or don't fully understand the benefits of filing for bankruptcy, many borrowers who struggle with debts they can't repay delay seeking remediation services for much longer than necessary. Frances H. Hollinger Attorney at Law of Mobile, AL, understands you might want to give it your best shot before filing for bankruptcy, but also cautions that there's usually no benefit to waiting.

The sooner you file for bankruptcy, the sooner you can restart your life, which is why this lawyer recommends filing if you:

• See Your Balances Rising: Depending on the type of debt you owe and the structure of the fees, you might dutifully pay your bills every month only to find the balance rising year after year. For many people, bankruptcy is the only way to break this endless cycle of frustration and stress.
• Are Facing Repossession: One of the most welcome, if little-known, features of bankruptcy is the automatic stay, a court order that puts an immediate stop to all collections activities. Not only will your phone finally stop ringing, but any and all lawsuits, repossessions, and garnishments will cease. You may even be able to delay foreclosure.
• Have Missed Mortgage Payments: When you fall behind on your mortgage, lenders will usually not accept less than the total amount needed to bring the account up to date. Getting that amount of money together is simply impossible for most people, which is why a Chapter 13 bankruptcy can be so valuable. This program consists of a court-ordered repayment plan that will allow you to catch up on missed payments and hopefully avoid foreclosure.

When you need effective legal advice from a compassionate, caring professional, turn to Frances H. Hollinger Attorney at Law for the individualized attention your delicate financial matters deserve. If you're ready to change your financial life for the better, call their offices at (251) 943-9030 to schedule a consultation. You can also visit their website today to learn more about the benefits of filing for bankruptcy.