Is Bankruptcy my best alternative? Will it work for me? That is probably the question I get asked most in my capacity as a consumer bankruptcy attorney.
It is never an easy question to answer, and depends on many factors. Do you have a home? Have you filed for bankruptcy before, and if so, when and what chapter? What kind of debt is the problem: medical bills, mortgage payments, credit cards or something else? These are but a few of the complex questions that go into making this decision.
And then you need to consider if there are other alternatives that will work better for you. My job as a consumer bankruptcy attorney is to counsel debtors as to the best way to resolve their debts. Sometimes that is by filing bankruptcy, but sometimes there are other things that can be done.
Credit card debt and medical bills can be negotiated and sometimes paid off for lesser amounts. Mortgages can be refinanced or houses sold. Other debts might have expired or can be challenged legally.
Unfortunately there just is no simple answer. The best you can do is to find competent consumer bankruptcy counsel to help in making the decision. A good attorney will analyze your situation and discuss the best course of action with you; be it bankruptcy or something else.
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