Is bankruptcy right for me?

There are a considerable number of people who are trying to make ends meet but with little or no job prospects and are falling behind financially. If you get phone calls from collection agencies and live off credit cards or go to the food bank more than once a year, then you need help.

If you cannot earn enough money to keep up with your debts, then bankruptcy may be the best option. A few generations ago it was considered the worst possible experience to go bankrupt, images of families thrown into the street come to mind. Fortunately in this country we are protected by law that makes allowances for your home and tools of your trade in certain situations. Thanks to these laws there is a certain civility in the insolvency process.

While it is possible to file for bankruptcy on your own, you should consider contacting a qualified attorney who specializes in this. The attorney will work on your behalf and ensure that you are fully protected under the law. Some people are afraid to call a bankruptcy attorney because they don’t have the cash available to pay for them. Don’t worry, the attorney is fully aware that he faces financial challenges and will work with you on something that is comfortable for you.

It is not a simple matter to file for bankruptcy, you must first pass the means tests set by the government. This test will look at your current financial situation and determine if you fit the profile. If you do, then your bankruptcy attorney will file the necessary paperwork to prevent all of your creditors from harassing you. During the bankruptcy process, you cannot incur any new debt and you must follow the instructions provided by your attorney precisely if you wish to expedite bankruptcy.

During your bankruptcy, it will be challenging to live on cash alone, but once it’s over, you’ll have a fresh start. The sooner you face your financial challenges, the happier you’ll feel. Many relationships end due to financial difficulties, so addressing them immediately will help ease the anxiety we all have when debt consumes us. Just make sure that the bankruptcy attorney you hire has an impeccable reputation and you will have nothing to fear.