Austin Bankruptcy Blog


Signs you should consider filing for Chapter 7 bankruptcy

Posted by Sean T. Flynn | May 01, 2022 | 0 Comments

Despite our best efforts, financial hardship can strike at a moment's notice. No matter how much savings we have, a sudden medical emergency, job loss, divorce or another emergency can leave you with nothing in the back and bills that are waiting to be paid. If something like this has happened to you, you are not alone. Hundreds of thousands of people file for bankruptcy each year because they are able to recognize the signs that Chapter 7 bankruptcy is right for them. Some of the more common signs include:

You use credit cards to pay for credit cards

When you are shuffling debt between credit cards instead of paying them off, it is often a strong indicator that you are unable to pay these monthly costs. Credit cards are one form of unsecured debt that bankruptcy can help you manage.

You are behind on bills

Despite your lack of income, monthly expenses like phone bills, internet, cable, water, rent, and electricity bills still demand monthly payments. If you are a month or more behind on multiple utilities, bankruptcy can help you discharge these debts.

You are buried in medical debt

Even minor medical treatments and procedures can come with a mountain of bills. If your monthly payments toward your medical debt is keeping you from paying for other necessities like rent or food, it may be worth considering bankruptcy to help you eliminate the medical debt.

Do not ignore the signs

There are many other signs that bankruptcy may be right for you, like if you lose sleep worrying about money or if you dread finding another late notice in the mailbox, but the best way to confirm if it is time to apply for bankruptcy is by consulting with an experienced bankruptcy attorney. Their guidance can help you identify if bankruptcy is the right option for you, and what you need to do to secure it. If you think that you can benefit from bankruptcy, do not ignore the signs, and pursue the financial freedom you deserve.

About the Author

Sean T. Flynn

Biography A graduate of the University of North Texas, Sean went on to get his JD from the University of St. Mary's School of Law. He is licensed to practice law in the State of Texas, as well as being admitted to the U.S. Federal Court in the Northern, Eastern and Western District of Texas. Sea...


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

The Law Offices of Sean T. Flynn Are Here for You

At The Law Offices of Sean T. Flynn, I focus on Bankruptcy matters and I am here to listen to you and help you navigate the legal system.

Contact Me Today

The Law Offices of Sean T. Flynn is committed to answering your questions about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Steps For Filing Bankruptcy, Foreclosures and Repossessions, Divorce Bankruptcy, and Creditor Lawsuits issues in Austin, Texas.

I offer a free consultation and I'll gladly discuss your case with you at your convenience. Contact me today to schedule an appointment.

Austin Law Office
4408 Spicewood Springs Rd., #413
Austin, TX 78759