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Should I File for Bankruptcy?

On Behalf of | Aug 6, 2020 | Bankruptcy, Firm News

Bankruptcy may be the right solution for you, but first look at your financial situation to make a proper decision. If you ask yourself whether your financial debt will loom beyond the next five years and the answer is, “Yes,” then bankruptcy may be the right decision. It can sound scary but the financial weight that will be lifted off you will bring a huge sense of relief. At first bankruptcy may appear unattractive but in time this will fade.

You should consider bankruptcy if a job loss or medical bills are causing you to feel like you are in over-your-head. You may be in a situation where it suddenly becomes impossible to pay your bills and you can’t lose the home you live in. Other factors that may lead you to bankruptcy include divorce, sued by creditors, the danger of foreclosure, you are using credit cards to make ends meet, to name a few.

If you are going to choose bankruptcy then some of the big bills you have coming due soon may qualify as part of your bankruptcy but remember as of current law student loan debt and debts to government agencies do not qualify for bankruptcy while credit card debt, medical bills, personal loans, and most lawsuit judgments can be wiped out.

You will not know the answer until you ask the questions so call our team so we can use our experience and confidence to help you through this bump in your road.