30 Apr Is Bankruptcy the Right Decision?
The chief question that almost every client asks is whether bankruptcy is the right choice for them. For every family, the combination of factors to look at is different. Most have limped along, financially, and hate the thought of bankruptcy.
One of the elements that is decisive for me is whether the individual has any savings for an emergency or savings for retirement. If all of the available cash is supporting current living and debt service, then this is an individual at risk today and at retirement.
Consider where you would be if the minimum credit card payments you are now making were funding emergency savings. Bankruptcy would make that possible.
My colleagues in the Bankruptcy Law Network are invited to chime in with their tests of when bankruptcy is the right choice.
Cathy Moran, Esq.
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