Should I File Bankruptcy?
The Preliminary Questions That Will Help You Decide
If you’ve overextended yourself to the point where creditors are threatening wage garnishment, foreclosure or repossession, you may be asking yourself, “Should I file bankruptcy?” Unfortunately, there is no clear answer to this question. On the one hand, even bankruptcy attorneys will tell you that bankruptcy ought to be your last resort option. On the other hand, in certain circumstances, bankruptcy may be the only workable solution to gain you a fresh start. Indeed, many people who end up filing wish they would have filed earlier. The only way to know for sure is to speak with an attorney who can review your financial situation and give you a professional opinion. Meanwhile, here are five questions you should ask yourself before you file.