The Key To A Fresh Start
Is Closer Than You Think

You aren’t a failure if you need to go into bankruptcy

There are all kinds of reasons why people end up going into bankruptcy. Sometimes, it’s a result of running into financial challenges from taking out too much debt. Other times, bankruptcy may seem like the only solution after falling ill and racking up so many hospital bills that you can’t see a way out.

While it may have once been taboo to talk about going into bankruptcy, it’s now much more common to hear people talking about it and how it can help.

Bankruptcy could be an acceptable solution for financial trouble

Bankruptcy isn’t necessarily the only option capable of resolving financial issues. Other options might include getting another job to repay debt, working out a repayment plan or negotiating bills down so that they’re more affordable.

Still, those options won’t always work. Sometimes, even after negotiating or getting on a repayment plan, those debts are just too high to handle.

Bankruptcy can be a good solution if you find yourself in that position. Whether you’re working or not, if you have overwhelming debts, you deserve an opportunity to start fresh and to have better financial stability.

You have options when you choose bankruptcy

There are different kinds of bankruptcy that may help you get out of debt. If you have no job or meet the means test, you may qualify for Chapter 7 bankruptcy. This form liquidates your nonexempt assets to repay as many of your debts as possible.

The other option is Chapter 13 bankruptcy. This is like a consolidation plan, but it has the added benefit of reducing and eliminating your debts within three to five years.

Either form can help if you own your own business, too.

Should you feel bad about needing bankruptcy?

No. Bankruptcy is legal and was designed to help people in positions like yours. Bankruptcy can be a great way to get better financial footing and to make sure that you can live more comfortably despite having financial issues right now.

Financial problems don’t make you a bad person or someone who should feel guilty about seeking help. These protections are laws for a reason. You can use them to get into a better financial situation.