Ask A Lawyer

Tell Us Your Case Information for Fastest Lawyer Match!

Please include all relevant details from your case including where, when, and who it involoves.
Case details that can effectively describe the legal situation while also staying concise generally receive the best responses from lawyers.

By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Email, Phone, Text Messages, Terms of Use, and Privacy Policy. Information provided may not be privileged or confidential.

Waiting too long to seek debt relief may only make matters worse

by Rodd Christian Richoux on Jul. 12, 2018

Bankruptcy & Debt 

Summary: Waiting too long to seek debt relief may only make matters worse

Many people across the country, including in Louisiana, struggle with debt for years. The reasons for facing these prolonged hardships can differ from person to person, but often, parties are hesitant to move forward with major debt relief steps, such as filing for bankruptcy. However, individuals may face greater financial difficulties the longer they wait to file.

A recent report indicated that individuals with debt who waited two or more years to file for bankruptcy showed considerably greater financial difficulties than those who filed sooner. These individuals, known as long strugglers, typically have half the average amount of assets than those who did not wait as long to file. Additionally, nearly half of the long strugglers who participated in a research project indicated that debt collection lawsuits had been filed against them.

While some people may find it admirable to try to deal with debts on one's own, it may only make the situation more difficult. If parties have reached a point where they are using credit cards to pay other debts, and as a result only accruing more debt, or have a substantial amount of unsecured debt, it may be wise to consider bankruptcy. If individuals are going without needed medical attention or are forgoing other necessities due to their debt issues, it may also be time to consider a serious debt relief option.

There is no question that bankruptcy is a major step. However, rather than letting this debt relief avenue intimidate them, Louisiana residents may want to find out information on how beneficial the process can be. Speaking with knowledgeable attorneys may allow interested parties to gain the facts they need to decide whether to follow this route.

Legal Articles Additional Disclaimer is not a law firm and does not offer legal advice. Content posted on is the sole responsibility of the person from whom such content originated and is not reviewed or commented on by The application of law to any set of facts is a highly specialized skill, practiced by lawyers and often dependent on jurisdiction. Content on the site of a legal nature may or may not be accurate for a particular state or jurisdiction and may largely depend on specific circumstances surrounding individual cases, which may or may not be consistent with your circumstances or may no longer be up-to-date to the extent that laws have changed since posting. Legal articles therefore are for review as general research and for use in helping to gauge a lawyer's expertise on a matter. If you are seeking specific legal advice, recommends that you contact a lawyer to review your specific issues. See's full Terms of Use for more information.