Is Bankruptcy the Best Option in my Situation?

Bankruptcy is a sensitive topic that should never be discussed or considered lightly. Many individuals believe that bankruptcy is an opportunity to be freed from their financial obligations and hardships, and have a new beginning. Unfortunately, individuals who have actually gone through bankruptcy describe it differently. Financial advocate and national radio and talk-show host Dave Ramsey describes his experience with bankruptcy:

 

Dont let anyone fool you. I have been through bankruptcy and have worked with bankruptcy for decades, and it is not a place you want to visit. Bankruptcy is listed in the top five life-altering events that we can go through, along with divorce, severe illness, disability, and loss of a loved one. I would never say that bankruptcy is as bad as losing a loved one, but it is life-altering and leaves deep wounds both to the psyche and the credit report.

Bankruptcy Facts and Myths

What is bankruptcy?

What is the difference between Chapter 7 & 13 bankruptcy?

Will bankruptcy stop foreclosure from occurring?


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