Before Filing for Bankruptcy

What to Know Before Filing Bankruptcy

Since 1999, I have helped many people get a fresh start for themselves and their families by helping them file bankruptcy to eliminate or greatly reduce their debt burden. The new bankruptcy law, enacted by the U. S. Congress in October of 2005, has changed some things, but filing for Chapter 7 or Chapter 13 bankruptcies does not remain a difficult process.

If you can’t decide whether to file, consider these questions:

  • Are you paying more than 25% of your family take-home pay to creditors?
  • Are you juggling credit payments and accumulating late fees by not paying?
  • Have you opened a new credit card account to pay off a higher-interest old one?
  • Have you taken a credit card cash advance to pay bills?
  • Are you making minimum monthly payments on more than one credit card?
  • Have you put off paying bills because of an unexpected expense?
  • Are you still paying for holiday gifts purchased more than one year ago?
  • Have you refinanced your house in order to “catch up” on your credit bills?
  • Are you arguing more about money than you did a year ago?

Answering yes to any of these questions means that you could be sinking into a credit hole. Millions of Americans have started a new life by filing bankruptcy. Chances are many of your friends, neighbors, and co-workers have. Give it a thought, then call the Rhode Island personal bankruptcy lawyer’s office Robert B. Jacquard, Esq., to schedule a free consultation. It’s your life. You decide.