Bankruptcy: Good Idea or Not?
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Transcript of Bankruptcy: Good Idea or Not?
BANKRUPTCY: GOOD IDEA OR NOT?
Anybody who is interested in filing bankruptcy needs to consider the pros and cons, ensuring that they
make the right decision
Compare Pros and Cons
Be sure to compare the many pros and cons of bankruptcy, as this will allow you to make an
informed and confident decision
Note:
Chapter 7 and Chapter 13 are most common for individuals, and each
type has its own set of pros and cons
Alternatives to Bankruptcy
Are you aware of the alternatives to bankruptcy?
Before filing, consider other options such as credit counseling
Your Eligibility
You may not be eligible for every type of bankruptcy, so you
must look into this as soon as possible
If you don’t qualify for Chapter 7, for example, you may still be able to
file Chapter 13
The Cost
To go along with the pros and cons, you don’t want to overlook the cost
of filing
In addition to filing fees, you will probably hire an attorney to show
you the way
Impact on your Personal Life
If you are worried about what others will think of you,
bankruptcy may not be the answer
This could change the way others treat you, while also
holding you back from reaching career goals
Hire a Bankruptcy Attorney
With the help of a bankruptcy attorney it is much easier to
determine if this is a good idea or if you should hold off for the
time being
LEARN MORE ABOUT BANKRUPTCY IN OHIO
Content provided by: Best Legal Practices
Click to visit: thecolumbusbankruptcylawyer.com