Few situations are as stressful as falling behind on your debts, especially when you don’t seem to be making any progress. In some cases, taking a second job to pay down debt might seem better than talking to a bankruptcy lawyer, but this approach isn’t for everyone. Below are a few points to consider when you’re deciding between filing for bankruptcy or finding a second job.

Working Another Job

The sharing economy makes it easier than ever to supplement your income, potentially giving you the tools to dig yourself out of debt. If your financial distress was caused by a temporary setback or you’ve already managed to pay down some bills, a short-term side job may be the answer to your problems. However, most people can’t keep up a punishing work schedule for very long, so a second job may not help if you’re deeply in debt. Before considering whether this is the right path to take, you should also consider the impact on your family, social life, and mental health.

Filing for Bankruptcy

Bankruptcy provides powerful protections for distressed borrowers, essentially wiping away most unsecured debt and leaving you with a clean slate. While you might have to surrender some of your personal property if you’re filing a chapter 7 bankruptcy, a good bankruptcy lawyer will ensure you can exempt as many of your assets as possible. In fact, most people can take advantage of bankruptcy protection without giving up anything at all. Your credit score will certainly take a hit, but with some financial discipline, you can start rebuilding your credit reputation almost immediately.

Dealing with unmanageable debts is stressful and confusing, which is why the bankruptcy lawyers at Padgett & Robertson, Attorneys at Law have dedicated themselves to helping clients throughout southern Alabama get a fresh start. With over 35 years of experience and an in-depth understanding of the code, they provide every client with detailed debt relief plans tailored to their situation. Visit their website now to learn how they can help or call (251) 342-0264 to schedule your free consultation and financial analysis today.

No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other bankruptcy lawyers.

We are a debt relief agency. We help people file for Bankruptcy relief under the Bankruptcy Code.