Is Bankruptcy Right for You?

The fact that you’re reading this is a sign that you may benefit from filing for bankruptcy.

Maybe unexpected medical expenses have left you in a desperate financial situation.  Perhaps an adjustable rate mortgage has put a squeeze on your ability to repay your debts.  You may be a victim of out-of-control credit card interest rates, an unanticipated loss of income or any one of thousands of problems that can put people under immense financial stress.

You’re researching bankruptcy for a reason–and that’s a sign that you may need help.

When considering bankruptcy, you may want to ask yourself a few questions:

  • Do you have negative cash flow each month?
  • Do you have creditors calling you daily?
  • Do you have more than $10,000 of debt?
  • Do you have judgments against you or wage garnishments?
  • Do you have accounts in collection?
  • Do you use payday loans or check cashing services as a way to make ends meet?
  • Do you have some money left each month to pay your creditors, but not enough to pay off your debt within the next five years?
  • Have you experienced a drop in income?
  • Have you experienced an increase in your expenses?

If you find yourself answering “yes” to some of those questions, a bankruptcy may be right for you.

Filing for bankruptcy is a big decision.  Most people don’t like the idea of filing for bankruptcy.  However, filing bankruptcy doesn’t make you a bad or irresponsible person.  In fact, filing for bankruptcy may be the most responsible choice–realizing that you’re in over your head and taking action to make a fresh start could be the best possible thing for you and your family.

Your creditors are focused on doing what’s best for them.  You need to do what’s best for you.

Most people who file for bankruptcy aren’t in a hole because they’ve lived extravagantly or have intentionally made irresponsible choices.  They find themselves in trouble because of job losses, divorces, medical expenses and other unexpected problems and real-life problems.

Bankruptcy should be a decision based on your best interests.  The bankruptcy laws are in place because people do need fresh starts under certain circumstances.  Filing for bankruptcy is not a “badge of dishonor” or something about which you should feel ashamed.

If you’re ready to discuss the possibility of bankruptcy or to find out what filing could mean for you and your life, call or contact the Marks Law Firm.  We specialize in Iowa bankruptcy filings and will be happy to schedule a free, no obligation consultation with you.  We can talk about your situation and whether bankruptcy is the right option for you.

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