Is Filing For Bankruptcy Worth It?

Posted by Wesley Scott on December 26, 2019 at 11:01 AM
Wesley Scott

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Filing for bankruptcy is a difficult decision. A decision that no one should take for granted or take lightly. When deciding whether or not to file a great question to explore is this: is filing for bankruptcy worth it for me? Taking into account all of your debts, incomes, expenses, and assets, is bankruptcy the best route for me. What are the pros and cons of filing? What is gained and what, if anything, is lost during the bankruptcy process? Most of these questions are best discussed with an experienced bankruptcy attorney in a consultation. But how does one decide to take that initial step and schedule an appointment? Here are some questions to ask yourself:

Do you have creditors attempting to collect debts day and night? Creditors can be ruthless in their tactics to collect on debts. If these calls, letters, and correspondences get out of hand, retaining a bankruptcy attorney is a surefire way to stop the harassment.

Are the majority of your debts consumer debts or medical expenses? Clients with these types of debts can majorly benefit from filing for bankruptcy. There are some debts that cannot be discharged but medical debt and consumer debts like credit cards are eligible for discharge through a bankruptcy.

Does thinking about your debt absolutely overwhelm you? A current client laid it out to me simply, “my choice was to either drown or file for bankruptcy.” This client went onto explain that while his pride had been holding him back from filing for bankruptcy, the relief afterwards had been incredible.

If you answered yes to any of these questions, you will benefit from filing for bankruptcy. If you answered yes to ALL of these questions (as most of our clients do) you should call Kain & Scott ASAP to get the ball rolling and to get on track to getting your life back!

Conclusion

Kain & Scott is MN’s LARGEST and MOST EXPEREIENCED bankruptcy firm! Find all the information you need and request a consultation online at www.kainscott.com.

 

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