Top 3 Reasons to File Bankruptcy
A divorce is the number one reason people end up having to file a bankruptcy. Money issues are a reason to file for the divorce well now two separate homes, day care, and all the other things that go with a divorce even make things worse. The divorce degree will not stop a creditor from coming after the other spouse even though it say who is to be paying what.
The next reason to file is the loss of income, either long term or even short term. With the short term once you fall behind on the credit cards if they raise the interest rates to 30 per cent there is no way to pay them. With long term change in the income you might have to make major changes in your life like surrendering the home or cars because you can’t make the payments any more.
The next is some form of illness. it could just be the medical bills or loss of work while sick, now you have more bills than you can pay.
Whether you file a chapter 7 or chapter 13 they will give you the relief from having the creditors calling you all day and night. After filing and the income comes back, go out and rebuild and get the cars and house back that you were able to afford before the changes took place.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
