10 Reasons to File Bankruptcy
- The economy is bad for working class people. You have lost your job. There is no way to pay your bills. You are underwater and think there is no way out. You need help and you need it quickly.
- You had an unexpected medical problem arise. Insurance does not cover the bills. You are now on the hook for perhaps thousands of dollars. There is no way you can ever pay those bills without winning the lottery.
- Credit card bills have gotten out of hand. Expenses came up that you did not have the money to pay for. You used your credit card. You have been making minimum payments. The outrageous interest rates have made the debt get out of control. At best, you are only paying interest. There is no way to get out of this vicious cycle.
- You have fallen behind on car payments. You have fallen behind on your mortgage. Everything you have spent your life working for seems to be slipping away. Bankruptcy can help you find a solution.
- Creditors are not letting you live in peace. They do not care about your problems. They only care about getting their money and getting it now. The phone calls. The letters. There seems to be no end to it. Bankruptcy can put a stop to it. If creditors keep bothering you after you file bankruptcy, the bankruptcy laws offer you ways to go after them. You will be able to get a good night’s sleep.
- A creditor or a debt buyer has filed a lawsuit against you. You are now being hauled into court for a debt you have no way of paying. Filing a bankruptcy case will stay any state court proceeding regarding the debt you have been sued for.
- You have received a judgment against you after being sued. The creditor is now going after your money you need to live on. Your wages have been garnished. Your bank account has been frozen and your funds have been levied.Your vehicle has been seized to pay a judgment. Bankruptcy can offer a solution and stop these actions.
- Due to debts like credit card bills and medical bills you are trying to make payments on, you are now struggling to provide basic needs for you and your family. Bankruptcy can discharge certain debts that will provide you with much needed relief.
- Tax debt has gotten out of hand. Certain tax debt is dischargeable in a bankruptcy. In addition, a Chapter 13 bankruptcy filing can give you time to repay tax debt that cannot be discharged over a period of up to five years.
- Finally, you just need a fresh start. A bankruptcy filing can give your life a much needed reset free of debt.
