Should I File For Bankruptcy?

At one point or another, we have all found ourselves under financial strain. Whether it is unforeseen car repairs, medical bills, or losing a job, sometimes your income just cannot catch up to your expenses. So, many people look into the option of filing for bankruptcy.


Bankruptcy is not always the best option for everyone. If your financial situation is relatively new, and there is a chance you can dig out of the hole with a bit of time, then options like credit counseling or negotiating with your creditors may be the best solution. Depending on the scale of the issues, you may be able to manage it alone, or you may need professional help.


Anyone facing a serious financial problem that they cannot see a way to recover from, should examine if bankruptcy is the right option. The best feature of bankruptcy is to give you a fresh start. A do-over if you will. This allows you to consider your income, your necessary expenses, and get a much better handle on your future finances. Bankruptcy does require that you complete a financial education course which is intended to give you the tools to prevent future financial distress.


There are a large number of considerations that go into the decision to file for bankruptcy. What assets do you have, and will you be able to keep them? What debts do you have, and will bankruptcy make them go away? How quickly do you need the protection from your creditors? Does your spouse need to file with you or not? Have you given property to someone, bought or sold items recently, or incurred new debts? Do you need to wipe out all of your debts, or do you just need more time to pay? Each of these things can shape the type and outcome of a bankruptcy filing.


No matter your situation, contact us today to discuss the options. The no-obligation consultation is free and confidential.


Legal Disclaimer

Please consult an attorney for advice about your individual situation. This site and its information is not legal advice, nor is it intended to be. Contacting Thomas and Brown does not create an attorney-client relationship. Until an attorney-client relationship is established, please withhold from sending any confidential information to us.

Melinda Brown, esq. is a debt relief agency as defined by the US Bankruptcy Code. We help people of Middle Tennessee file for bankruptcy under the Bankruptcy Code. 

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