Should I File For Bankruptcy?

Should I File?

In this real life example, we explore whether someone should file for bankruptcy or not.  We also examine the Chapter under which the person should file if at all.  There are a number of factors that determine whether or not someone should file for bankruptcy.  These factors include, but are not limited to:  Assets, liabilities, income and expenses.  If someone has significant assets with equity, Chapter 13 is going to be the best potential options.  If, on the other hand, the person has very little in terms of assets with equity, then Chapter 7 is likely going to be the better chapter.  Consult with an experienced bankruptcy attorney to see whether or not you qualify and if so, under which chapter of the United States Bankruptcy Code.