Is Bankruptcy For Me?
We understand that the decision to file for Bankruptcy is a very difficult choice to make. People are often torn between the desire to pay their debts off and the hopelessness of the pile of bills that just seem to keep coming. Sometimes, there is even a feeling of shame about the possibility of filing for Bankruptcy. We understand where you are…
The decision to file for Bankruptcy should never be taken lightly, and whether or not filing is the best choice for you can only be determined by evaluating your individual circumstances. However, you may be a good candidate IF:
* You find yourself getting deeper and deeper into a financial hole every month, no matter how much you pay on your bills.
* You are facing collections lawsuits, judgments, and/ or garnishments that you have no way of paying.
* You have to make decisions to either pay your utilities and house payment, or to pay your credit cards.
* You have been laid off, had your hours cut back, or suffered a circumstance which no longer provides you the income to cover the debts you have incurred.
* You had a home foreclosed on (or are about to), or a vehicle repossessed, and now owe a balance on that item which you can not afford to pay.
It is important to note that the Federal Government has established income guidelines, limiting who can file for a Chapter 7 Bankruptcy. This amounts listed below are the maximum TOTAL household income (including Wages, Social Security, Unemployment, Disability, Workers Comp payments, Child Support, etc).
Household size: Maximum Income
1 $44,703
2 $ 53,575
3 $ 63,339
4 $76,312
| **Add $6900 for each additional individual in the household if there are more than 4**
(please note that these numbers are merely for reference purposes only. There are several factors which may affect them slightly. Please contact our office for more details) |