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Are You Drowning In Debt?
Don’t wait until it’s too late. declare bankruptcy now!

Bankruptcy isn't going to ruin the rest of your life

One of the biggest myths about bankruptcy is that it's going to completely ruin your life. Some people who are in dire financial straits refuse to use it because they buy into this myth and they think things are only going to get worse.

Remember, the reality is far different than the myth. The bankruptcy process, when done correctly and when it's necessary, is a positive one. It's not going to wreck your life. It's just going to give you a chance to start over.

What you must consider is the alternative. For example, many people don't want to file because they are afraid of what will happen to their credit scores. But, if you have $20,000 in debt, you're missing your payments every month and the debt keeps climbing, what do you think is happening to your credit score right now? All of that debt and those missed payments are destroying it anyway. Why not get out of debt, ease your stress and start over? In a case like that, you don't have much to lose.

This isn't to suggest that bankruptcy is something that you should ever take too lightly. One expert said he'd seen people with just $7,000 in debt file for bankruptcy, and he was shocked. With debt that small, there are other ways to get out. Bankruptcy is more often used when you're looking at tens of thousands of dollars in debt.

The key is to look into things carefully so that you really know how the whole process works in Pennsylvania, and so that you understand when bankruptcy really is far better than continuing on with massive debt.

Source: Bankrate, "Does Consolidating Debt Help or Hurt your Credit Score," accessed June 09, 2016

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