The mere mention of the word “bankruptcy” always meets one of two reactions.
One is the “they had it coming” reaction where people thing that somebody should not be bailed out for their own decisions. We might hear comments like, “these people probably spend their money buying flat screen TVs and going to Vegas all the time.”
The other reaction is “why not give folks a chance at a fresh start, so they can get back to becoming a fully productive member of society?”
Obviously, I am firmly a disciple of the second reaction, especially when all data shows that individuals file bankruptcy for one of three reasons: lost your job, got sick, or got divorced. Sometimes it is a combination of two or three of these reasons.
Notice that none of these reasons have anything to do with reckless spending or behaviors. Further, and for what it is worth, even if you wanted to run out a buy flat screen TV and other cool stuff right before you filed bankruptcy, the laws and rules of bankruptcy would prevent you from keeping them anyway.
I do individual Chapter 7 and 13 bankruptcies. For an explanation of the different types of bankruptcies and what that means, here is a link.
I am happy to meet with you, analyze your financials, and let you know what the best path forward is for a fresh start.