you are having problems paying your monthly bills, and cannot seem to get back
on track financially, it may be necessary for you to consider personal bankruptcy.
However, there are a number of different bankruptcy alternatives that should
be considered first.
Filing personal bankruptcy should be your last resort, and should only be considered if all other options have failed, or are not viable options for you and your family.
bankruptcy means giving up everything you own (except for property that is considered
exempt, such as basic clothing and household goods, and other items depending
on where you live), in exchange for the elimination of your unsecured debts.
bankruptcy is different in all areas of the United States and Canada, so we strongly
recommend consulting a bankruptcy attorney before proceeding. Your bankruptcy
attorney will explain the personal bankruptcy process, and can help you decide
whether bankruptcy is the right option for you.
is a very difficult decision. It will get rid of most, if not all, of your debts,
but it will also have an effect on your ability to obtain credit in the future.
Before filing for bankruptcy, talk to a credit counselor to ensure that
you have examined all of your options.
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