Have you considered filing for bankruptcy? Do you know how scary bankruptcy court can be
? Bankruptcy is not the only option and it is not the option for every situation. There are situations that are right for bankruptcy and those that are not. Here is what to consider.
The first thing to consider is what your situation is. If you don't have debts that total over 3 times what your yearly income is, then there are better options for you out there. If your debts are over 3 times what you make in a year, then you should probably contact a bankruptcy attorney.
Bankruptcy is not a way out and if you find yourself sitting in a bankruptcy court, chances are you were talked into it by a lawyer and you really did not need it. This happens way too often in our country and about every other person that files for bankruptcy should not and ends up right back in debt a year or two after filing.
The second thing to consider is your other options. You do have options other than bankruptcy to get yourself and your family out of debt. The local church you go to or a debt service can help you if you want to avoid bankruptcy.
There are many options out there for you that can get you on the right track.One of the good things about some of the other debt options that are out there is that you will discover ways to avoid going back into debt. This could be the greatest advantage to using a debt service.
They will counsel you and help you get on a budget that you can use to not only pay off your debts, but save money to ensure that you don't end up back in debt. Before you find yourself sitting in a bankruptcy court thinking that you don't belong there you need to consider your options and make sure you are making the right choice for yourself and your family.