5 Things You Should Know About Filing for Bankruptcy
Household debt levels are high and many families are struggling with debt repayment. It is important to know that there are options available. People with serious debt problems are often afraid or hesitant to speak to a Licensed Insolvency Trustee like myself because they believe a Trustee will always recommend bankruptcy as a debt solution. While it is one option, it is not the only option.
There are certain debt situations that require the immediate debt relief and fresh financial start that filing for bankruptcy provides. Perhaps your wages are being garnished or creditors and collection agencies are regularly calling about missed payments. Or perhaps you cannot pay your bills or keep up with debt payments without using additional credit. While bankruptcy is not the only option, in some circumstances, bankruptcy may be the best solution.
If you’re experiencing debt problems, the more you know about all of your options for resolving your debt, the more comfortable you’ll be with whatever debt solution you choose. That’s why understanding each available debt relief option, including bankruptcy, is so important.
Here are five important facts that you should know about filing for bankruptcy.