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Is Bankruptcy the Right Debt Relief Solution for You? December 3, 2018

Hamden, New Haven County
Is Bankruptcy the Right Debt Relief Solution for You?, Hamden, Connecticut

Whether you’re facing insurmountable debt because of a job layoff, divorce, medical condition, or simply because your income is no longer sufficient to cover rising expenses, you’re not alone. While filing for bankruptcy is never an easy decision, in certain situations, it’s the best solution available – especially since bankruptcy laws can offer you certain protections. If you’re looking for a way to regain your financial footing, here are some instances in which you should contact an attorney for help. 

3 Scenarios That May Call for Declaring Bankruptcy

1. You’re Using Credit Cards to Pay for Necessities 

If you don’t have the funds to spend on even the most basic everyday necessities without the help of a credit card, you may want to consider filing bankruptcy. Using credit to pay for groceries, household products, and utility bills may quickly rack up debt and make your financial burden much worse, especially if you’re only able to make the minimum payments each month. If most of your debt is unsecured, a Chapter 7 bankruptcy will eliminate it and give you a clean slate.

2. You’re Facing Foreclosure 

bankruptcy lawThe threat of foreclosure is another major reason to file bankruptcy. If you’ve fallen behind on mortgage payments and recently received notice that your home is in danger of foreclosure, a Chapter 13 bankruptcy may help you save it. As soon as your petition is submitted, bankruptcy law will force the foreclosure process to stop, and you may be given the opportunity to catch up on what you owe through an affordable repayment plan. 

3. You’re Being Sued by Creditors 

Once you begin missing payments on your credit cards and personal loans, your creditors can file a lawsuit against you. If they’re awarded a default judgment, your wages may be garnished or liens placed against any property you own in an attempt to collect the debt that is due. Bankruptcy law allows for an automatic stay to go into effect after bankruptcy is filed, which will put a stop to all collection efforts. All pending lawsuits will be dismissed when your debt discharge is issued. 


For many people, filing bankruptcy is the only realistic option for returning to a debt-free life. If you need a reputable attorney to assist you in determining whether bankruptcy is the right choice for your circumstances, Steven P. Ciardiello Esq, PC will help. Offering more than 30 years of experience in bankruptcy law, he has provided numerous residents in the Hamden, CT, area with the legal advice and representation they need to overcome their debt problems. To schedule a free consultation, call (203) 248-8000. Visit him online for more information on how his services will benefit you.

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