The answer to this question is truly something only you can decide. Bankruptcy shouldn’t be taken lightly. However, if your financial situation has become desperate, it may be able to provide you with the “fresh start” you need.
We see people in our offices every day that are good, hard-working people, who have fallen on tough times for one reason or another. There are a number of circumstances that often lead people to financial stress including:
- Job loss
- Illnesses that cause reduced income or loss of income
- Medical bills or unexpected medical expenses
- Death of a loved one or spouse
While filing bankruptcy might seem like the easiest way to get yourself out of debt, before you pursue this route, you should understand all your options. You also need to understand the long term impact on your finances each of these choices will have.