481999961-BankruptcyBankruptcy should never be the answer to a temporary financial problem. However, if you find yourself in one of a few common situations that renders you financially desolate, bankruptcy may be the best and most logical solution.

  1. Your Bills are Overwhelming. While determining if bankruptcy is right for you, take a look at your income and determine how long it would take you to reasonably pay off the majority of your debts. If it would take you more than five years, you may be at the point where declaring bankruptcy is the right option.
  2. You Want to Save Your Home. If you have fallen behind on your mortgage payments, you may be facing foreclosure. By declaring bankruptcy, you may be able to stop the foreclosure process and potentially save your home.
  3. You are in a Financially Inopportune Situation. Some financially inopportune situations, such as divorce, job loss, or a chronic illness, may leave you wondering how you will ever recover. If you feel like you have no other options to help you overcome the situation you are in, bankruptcy may be beneficial.
  4. You Desire to Change Your Spending Habits. Bankruptcy can provide a fresh financial start. If you truly want to start over and overcome the financial habits that have been holding you back, you may want to consider filing for bankruptcy.

At Morgan & Partners Inc., we can help you determine if bankruptcy is the best option for your personal situation. For more information, please contact us today.