Should I File For Bankruptcy?


Frequently my clients tell me “I wish I had talked to you last year or even two years ago.” Why do people wish they had talked to a bankruptcy attorney sooner and sought bankruptcy protection? Many of them have cashed out 401K’s, borrowed against life insurance policies, sold personal possessions, pawned wedding rings and borrowed from family or friends to pay credit card or medical debt. In most instances, the debts paid could have been discharged in bankruptcy and the asset saved by the exemptions.

Have you done or are you considering doing any of the following?

  • Using your retirement funds to pay credit card or medical debt.
  • Borrowing money from friends or family.
  • Using payday lenders.
  • Selling your home.
  • Walking away from your home.
  • Getting sued by a creditor.
  • Having your paycheck garnished.
  • Taking a cash advance on a credit card.
  • Being harassed by creditors.

If you answered yes to one or more of the above, then talking with a bankruptcy attorney may be one of your best decisions. Bankruptcy can give you relief. This is the reason it’s called bankruptcy relief and allows you to keep possessions that you might otherwise lose.

Before you cash out your 401K or borrow from a payday lender, talk to a bankruptcy attorney. You may be surprised at what you hear. Having all the information about your options is always a good idea.

Joanne M. McCracken

Member of the National Association of Consumer Bankruptcy Attorneys

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