Home > Blog > How to Determine if Filing Personal Bankruptcy Is the Right Solution for Your Situation

filing personal bankruptcyPersonal bankruptcy is a process that is often viewed in a negative light. However, if you are struggling with your finances, it can provide you with real relief. At Morgan & Partners Inc., we can help you determine if filing personal bankruptcy in Milton, Ontario is the right solution and ultimately guide you throughout the process.

HOW TO DETERMINE IF FILING PERSONAL BANKRUPTCY IS THE RIGHT SOLUTION FOR YOUR SITUATION

 

Before filing for personal bankruptcy, it is crucial that you consider several different things. For example, you may want to ask yourself the following questions:

  • How much do you really owe to your lenders?
  • Are your creditors willing to negotiate with you?
  • Can you consolidate your debts or explore other options?
  • Are your financial problems caused by a temporary setback or an extensive problem?
  • What kind of assets do you possess?

Another question you should ask yourself is whether you are ready to rebuild your credit and what your credit goals are. Often, the personal bankruptcy process can take a large toll on your credit score in a way that makes it difficult to obtain a loan or apply for a new credit card; our office can assist you with your credit rebuilding.

At Morgan & Partners Inc., we are dedicated to your financial success. When you turn to us with an interest in personal bankruptcy, we will thoroughly examine your financial situation to determine if it really is the right choice for you and also help you understand what other options are available to you. Please contact us today if you wish to know more about the process or if you want to schedule a consultation with us.