Should I declare bankruptcy? How to know if bankruptcy is right for you

Take our simple questionnaire to help you decide if bankruptcy is right for you.

If you’re reading this, chances are you’re feeling overwhelmed by debt — and you’re not alone. Many good, hardworking people along Florida’s Treasure Coast find themselves struggling under the weight of medical bills, credit cards, or unexpected life events that throw their finances off track.

At Hoskins, Turco, Lloyd & Lloyd, we’ve helped thousands of clients across St. Lucie, Martin, Indian River, and Okeechobee counties find relief through bankruptcy. We know it’s not just about numbers on a page — it’s about your family, your home, your peace of mind. And we understand how hard it can be to take that first step toward learning your options.

That’s why we’ve created this simple, private questionnaire. It can help you better understand whether bankruptcy might be the right path for you, or if there may be other solutions to explore.

Should I declare bankruptcy? Take this quiz

This self-assessment quiz can help you understand your situation and options.

Ask yourself the following questions. Answering “yes” to several of them doesn’t mean bankruptcy is inevitable, but it could be a sign it’s time to explore your options with a professional.

• Are you using credit cards to pay for everyday essentials like groceries or utilities because cash is tight?

• Are you only able to make the minimum payments on your credit cards each month — or sometimes not even that?

• Have you received collection calls, letters, or even lawsuits over unpaid debts?

• Are you worried about losing your home to foreclosure or your car to repossession?

• Has your paycheck been garnished, or are you facing wage garnishment?

• Do you feel like no matter how hard you work, your debt just keeps growing instead of shrinking?

• Have you considered dipping into retirement savings or borrowing from family to pay creditors?

What do my answers mean?

If you answered “yes” to several of these questions, it might be time to have a confidential conversation with a bankruptcy attorney. Bankruptcy isn’t for everyone, but it can be a powerful legal tool to:

• Stop creditor harassment and lawsuits
• Halt foreclosure or repossession
• Discharge (wipe out) many types of unsecured debts
• Give you a fresh financial start

Florida has strong bankruptcy laws designed to help individuals regain their financial footing. For example, under both Chapter 7 and Chapter 13, Florida residents can either discharge overwhelming unsecured debts or reorganize and repay them under a court-approved plan. Florida’s exemptions—such as for homes, cars, and retirement accounts—often allow debtors to keep essential assets while obtaining a fresh financial start . The automatic stay which kicks in immediately upon filing halts collection efforts like wage garnishments, repossessions, or foreclosure, giving people breathing room to rebuild.

At Hoskins, Turco, Lloyd & Lloyd, we’re proud to be the most trusted law firm for bankruptcy along the Treasure Coast. We offer compassionate, straightforward advice — never judgment, always support — to help you decide what’s truly best for you and your family.

Should I declare bankruptcy? Get answers now!

Call 866-930-6435 to speak with our bankruptcy attorneys—completely free and confidential!

If you’re ready to explore whether bankruptcy makes sense for your situation, we’re here to help. We offer free consultations, so you can understand your options with absolutely no obligation.

• A full-service bankruptcy department – Led by seasoned professionals like Attorney Colin Lloyd—who brings over 20 years of bankruptcy expertise—and supported by dedicated attorneys, our team specializes solely in bankruptcy and foreclosure, giving you focused, expert support.

• Deeply familiar with local rules and courts – Our attorneys know the Treasure Coast legal system inside and out—from judges to credit counseling requirements—so your case moves smoothly and strategically.

• Tailored, personalize legal solutions – We don’t do one-size-fits-all. Whether you’re considering Chapter 7 to wipe out debts or Chapter 13 to reorganize them, we design strategies that align with your goals and lifestyle.

• Stop creditor harassment and protect your assets – Filing for bankruptcy triggers an automatic stay—halting foreclosure, repossession, wage garnishment, and creditor lawsuits. We’ve guided countless clients through this relief, giving them emotional and financial breathing space.

You don’t have to face this alone. Our experienced bankruptcy team at Hoskins, Turco, Lloyd & Lloyd is here to help you restore stability and peace of mind. Contact us today for a free and confidential consultation by calling 866-930-6435.