The Law Office Of Ambrogio, Pletter & Associates, llc
Call Today For A Free Consultation
203-502-7436
Toggle Our Practice Areas

Bankruptcy Archives

Bankruptcy: Will making financial New Year's resolutions help?

With New Year's Day and the end of 2019 less than a month away, some people are already thinking ahead to their 2020 resolutions. Weight loss and other forms of personal improvement are some of the most well-known resolutions, but they are far from the only popular ones. Rather than file for bankruptcy in the next year, a significant number of adults would rather improve their financial situations. Paying off debt is certainly a great goal, but many resolutions are more than the average person in Connecticut can realistically handle.

The role of debt consolidation in bankruptcy

Paying off all debts in the smallest amount of time might be the ideal situation, but it is not realistic for the vast majority of people. Instead, a person is more likely to make the minimum payments or even miss payments if he or she has too much debt. People who are in this type of situation may try to avoid bankruptcy by consolidating debt with personal loans, but it may not be as effective as some hope.

How financial confidence can lead to bankruptcy

Things are not looking too bad for Americans right now. The economy is performing relatively well, unemployment rates are low and there fewer delinquent credit cards than in 2009. Despite this, many Connecticut consumers might not realize just how close they are to needing bankruptcy.

Owe tens of thousands in extra debt? Bankruptcy is an option

Borrowing money may not always be ideal, but it is unavoidable for most people. Mortgages, auto loans and student loans can quickly pile on top of one another, putting consumers in a position where bankruptcy might be the best option. However, people in Connecticut are borrowing money for a lot of other reasons, too.

Negative equity can cause a financial crisis; bankrupcy can help

Buying a vehicle is a significant investment, but most people do not have any other options. Having a car is necessary for things like driving to work, going to the grocery store and even picking kids up from school. Cars do not last forever, though, and some Connecticut consumers might have to buy a new vehicle before they are ready. This can put people into precarious financial situations that may need to be addressed through bankruptcy.

Paying off student debt might be easier with bankruptcy

Getting an education is very important for young adults in Connecticut, but unfortunately that education usually comes with a very large price tag. However, while many college grads leave school with a significant chunk of debt, some have much more than others. Since student loans usually cannot be discharged through bankruptcy, some people might not consider just how helpful bankruptcy can be.

Does holiday spending contribute to bankruptcy?

With the holiday season already gearing up, Connecticut consumers might be writing their gift lists and keeping an eye out for good sales. There is often a lot of pressure associated with the holidays, so many people feel the need to start getting ready early on. Unfortunately, that pressure can push some people even deeper into already difficult positions, leaving them drowning in debt. Even if this situation feels hopeless, bankruptcy could be an option.

The benefits of filing for Chapter 13 bankruptcy

There is no such thing as an income limit for having too much debt. Even if you earn at or above the average wage in Connecticut, you might still be struggling to make all of your monthly payments while also meeting your basic needs. If due dates are flying by and you are on the receiving end of collection attempts and harassing creditors, it may be time to consider Chapter 13 bankruptcy.

Can bankruptcy treat our debt-related health problems?

Being in debt is stressful. Whether a person has only a small amount of debt or is drowning in bills and collection notices, it is simply a hard situation. In addition to being hard, it could also be making people sick. According to one wellness expert, stressing over money affects people's health and puts them at risk for various diseases. Rather than compromise physical and emotional health, those who owe debt in Connecticut could consider bankruptcy instead.

Deciding whether bankruptcy is right for you

Facing financial struggles is not necessarily uncommon. Each year, many people in Connecticut will probably feel frustrated over an unexpected bill or a paycheck that was less than expected. These situations might only be brief, but for some people, the financial struggles never seem to end. While bankruptcy is often an effective solution to those struggles, deciding whether to file requires a careful evaluation of an individual's financial situation.

Contact Us

To arrange a free consultation with an experienced Connecticut bankruptcy lawyer, call 203-502-7436 or fill out this form.

Get Started Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Ambrogio, Pletter & Associates, LLC
3288 Main Street
Suite 201
Stratford, CT 06614

Phone: 203-502-7436
Fax: 203-612-9200
Map & Directions