Who Should File for Bankruptcy?

25 May Who Should File for Bankruptcy?

Who should file for bankruptcy? Here in Massachusetts, here are some common scenarios I see:

  1. You are trying to keep debts current but are borrowing money from one card to pay other (robbing Peter to pay Paul).
  2. 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).
  3. You are trying to keep debts current but your are going without life essentials to do so (you do not need to do this).
  4. 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.
  5. You have defaulted on credit card debt and are being sued or already have civil judgments against you.
  6. 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.
  7. You have lost a job or had a reduction in income.
  8. You have incurred substantial medical debt because of illness or an accident.
  9. You have fallen behind on house or car payments and are facing foreclosure or repossession.
  10. You had a business that failed or is failing.
Related Posts Plugin for WordPress, Blogger...
The following two tabs change content below.

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!
No Comments

Sorry, the comment form is closed at this time.