25 May Who Should File for Bankruptcy?
Who should file for bankruptcy? Here in Massachusetts, here are some common scenarios I see:
- You are trying to keep debts current but are borrowing money from one card to pay other (robbing Peter to pay Paul).
- You are trying to keep debts current by using your savings but can see the day approaching when your savings will run out (tip: don’t wait to file until it does).
- You are trying to keep debts current but your are going without life essentials to do so (you do not need to do this).
- You have defaulted on credit card debt and are dealing with debt collectors who are not willing to help you and are rude and harassing.
- You have defaulted on credit card debt and are being sued or already have civil judgments against you.
- You have looked into credit counseling and found that they demanded a payment you could not afford or, worse, you have been scammed out of money.
- You have lost a job or had a reduction in income.
- You have incurred substantial medical debt because of illness or an accident.
- You have fallen behind on house or car payments and are facing foreclosure or repossession.
- You had a business that failed or is failing.
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Nicholas Ortiz, Boston Bankruptcy Attorney
From Attorney Ortiz: We have been helping consumers and small businesses in Massachusetts successfully navigate through the bankruptcy process since 2002. We offer free initial consultations and payment plans. Call us at 617-716-0282 to discuss your debt relief options. Mention the Bankruptcy Law Network when you call!
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