Lewis & Monroe, PLLC
Free One-Hour In-Office ConsultationsFree One-Hour In-Office Consultations

When is bankruptcy the right choice?

Bankruptcy is a word that a lot of people try to avoid bringing up. Some believe that entering bankruptcy is like admitting defeat. Others believe that it's failing in their responsibility to pay back what they owe.

The truth of the matter is that bankruptcy was set up to help people who fall on hard times. Bankruptcy can be a good option to erase consumer debt and to help you get back into control of your finances.

While there are other alternatives to bankruptcy, such as consolidating your debt or trying to negotiate with creditors, sometimes, the damage is already done. If your credit score is tanking and you're unable to pay what you owe, bankruptcy could get you back on track.

When does bankruptcy make sense?

Bankruptcy makes sense in a lot of cases. For example, if you're trying to pay rent and for food but have nothing left over for other bills, it might be time to look into bankruptcy to help. If your income is low and you're struggling just to make it from one paycheck to the next, bankruptcy could help you eliminate debts such as:

  • Credit card balances
  • Unsecured loans
  • Medical debts

By eliminating some or all of these debts, the hope is that you would be able to more forward in a better financial position.

If you think that bankruptcy might be right for you, your attorney can talk to you more about the different kinds of bankruptcy and what to expect as you begin the process. You may be surprised by just how easy it is to get back in control of your finances.

No Comments

Leave a comment
Comment Information
ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
Email Us For a Response

Contact The Firm In Orlando, Florida

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Lewis & Monroe, PLLC

651 Rugby Street
Orlando, FL 32804

Phone: 407-917-4147
Fax: 407-246-0008
Map & Directions