Nobody wants to file bankruptcy, and a lot of folks put it off longer than they probably should. There are also, quite frequently, complicating factors that go beyond emotions that can affect the decision to file. For example, you may be worried about more bills coming in if a medical crisis caused the bankruptcy, or you might be worried how your bankruptcy will affect your security clearance if you work in certain industries or for the government.

While you ultimately have to make the decision when to file for yourself, here are some signs that it's time to take the step and contact a bankruptcy attorney:

1. Creditors are getting more aggressive.

While you have rights against harassment by creditors according to the Fair Debt Collection Practices Act (FDCPA), some of those rights have weakened in recent years and may continue to do so. For example, creditors may soon be allowed to contact you via email and text messages. If it has gotten to the point where you're afraid to pick up your phone or creditors are crossing the line and contacting you at work or through family members, you can put a stop to it all rather quickly by filing bankruptcy.

2. You're facing repossession of some of your assets.

It's not uncommon to fall behind on the biggest monthly bills you have when you're facing a financial crisis. It won't take long for a loan company to start the process of repossessing your car, truck, motorcycle, or boat. While some of those items might not mean as much, your car or truck may be your primary source of transportation or even necessary for you to do your job! Filing bankruptcy halts repossession in its tracks and allows you time to work out an agreement regarding your loan (when possible) or find alternative transportation.

3. You're being threatened with foreclosure.

If your home is under the threat of foreclosure, filing bankruptcy will stop the process, at least for a time. This can do several things. If you're filing for Chapter 7, you may not have the income necessary to catch up on the payments, but the mortgage company may be willing to work out a deal that tacks on the overdue amount to the end of your loan. If not, you at least gain additional time to gather the money to find a new place and move. If you're filing Chapter 13, your repayment plan can include your home and end the foreclosure altogether.

If you're still uncertain about the road you need to take, contact bankruptcy lawyers, like those at Price James S & Associates, to discuss your options. You may have more choices than you think.