f you’ve already tried other alternatives to work with your creditors and have been unsuccessful either because the creditors were inflexible or because you were unable to follow through with your payments, it may be time to seriously consider bankruptcy.
Credit Counseling Programs
If you were unable to maintain the terms of the program in an approved credit counseling or debt management plan . Or the credit counseling agency seems more concerned with getting their monthly fees then solving your debt issues. Bankruptcy can offer you some time and space to figure out what you should do next.
Not all debt negotiations and debt settlement attempts end well. Even if you have been making the plans payments regularly, creditors may get tired of waiting for their money and file a lawsuit anyway. They may decide the expense of a lawsuit is a cheaper alternative than taking the lesser amount of you to owe instead of what your debt settlement company offers.
Maybe you even tried to borrow from family or friends or get debt settlement consolidation loans, and all this did was add another bill to pay.
If your attempts to take care of your debt without resorting to bankruptcy were unsuccessful, and you exhausted all possibilities, but your still facing debt you can’t pay and possible legal actions taken against you, may need to contact a Dallas bankruptcy attorney and get the protection you need in the bankruptcy court.