Bankruptcy is not for everyone, and not a decision to take lightly. Over three quarters of a million Americans will declare bankruptcy in 2017. But how do you know if bankruptcy is right for you? If you find yourself asking, “Should I File Bankruptcy?” then read on. Here are a few questions you should ask yourself to help you assess your financial situation.
- Do you make only the minimum payment on your credit cards?
- Are bill collectors calling you?
- Does the thought of sorting out your finances upset you?
- Do you use credit cards to pay for groceries or other necessities?
- Are you unsure how much you actually owe?
If you answer “Yes” to any of these questions, then you should strongly consider bankruptcy as a debt relief strategy.
Should I file bankruptcy? Call a bankruptcy attorney.
Bankruptcy is an excellent option (and many times, the only option) for people who owe more than they can afford to pay. The reasons a person may need bankruptcy differ from person to person, depending on individual circumstances. The end result, unfortunately, is often the same: a basic inability to make ends meet.
Many of my clients are, at first, embarrassed to meet with me. You may have always paid your bills on time. Or you may simply find it difficult to come to terms with a changed financial situation. No matter what your situation may be, it can often be very difficult to accept that you need help getting out of debt. Money problems don’t just go away by themselves.
You should muster your courage and take a proactive approach if you find yourself in untenable financial circumstances. With a good lawyer and the right information, filing bankruptcy can provide you the financial footing you need to get a fresh start.