Men and women who serve in the military face unique financial problems. Many in the armed forces have to balance multiple mortgages and a variety of other financial obligations, and every year, scores of our nation’s military men and women are compelled to file for bankruptcy. In the Dallas-Fort Worth area, if you are currently serving in the military and you are thinking that bankruptcy might be the answer for you, let an experienced Dallas bankruptcy attorney provide the sound legal guidance that you need.
Relocation in the military is often sudden and unexpected. Trying to balance several mortgages or rentals, especially when children are involved, can quickly become overwhelming. Few other lines of work leave so many families so financially vulnerable, and some situations that are unique to military life may exacerbate that vulnerability. When one spouse is deployed, the other spouse may choose not to talk about debts to avoid adding to the stress of deployment. Stress and uncertainty regarding the future can also lead to an irresponsible “who cares” attitude that creates credit card debt and eats away at savings.
Don’t let your debts overwhelm you. If you are in the armed forces, a bankruptcy may not hurt you. The military understands that you can’t concentrate on your mission if you’re constantly worried about debt, and the Servicemembers’ Civil Relief Act protects you from creditors’ lawsuits while you are on active duty and for up to a year afterwards. But even when your debts are spiraling out of control, bankruptcy isn’t necessarily the right answer.
The wise course of action is discussing your financial circumstances with an experienced Dallas bankruptcy attorney. If bankruptcy is right for you, you’ll need an attorney’s help, and if bankruptcy isn’t right in your situation, your attorney can suggest realistic and practical alternatives. The important thing is to take action and get the advice you need. If you don’t see any way to pay your debts, schedule an appointment at once to speak with an experienced Dallas bankruptcy attorney.