July 19th, 2009 by Reed Allmand 
One of the most common question potential clients ask is, “Who should file for bankruptcy?” Unfortunately, this isn’t a simple question to answer, and it’s going to depend on each person’s unique financial situation. However, the following is a non-exhaustive list of situations that should make you at least seriously consider filing for bankruptcy, especially if more than one applies to your financial state.
- You borrow money from one credit card to state current on the other.
- You are depleting your savings to keep your bills current and the end of your savings tunnel is in sight.
- You are going without basic essentials in order to remain current on your debt payments.
- You have defaulted on credit card debt and now rude bill collectors are harassing you at all hours of the day and night.
- Your creditors are suing you for defaulting on your debt, or have already received a judgment against you.
- You have sincerely considered credit counseling but discovered they demanded more than you could afford to pay or, worse, scammed you out of money.
- You have suffered a job loss or had your salary decreased.
- An illness or accident has driven you into severe medical debt.
- You are so far behind making house or car payments that your lender is threatening foreclosure or repossession.
- Your finances are stressing you out to the point you don’t even want to deal with them, or the stress is taking a toll on your relationships with friends and family.
Any one of these situations would be hard enough to deal with alone, but add two or more into the mix and it can be hard just to make it through each day. Those dealing with a financial atmosphere that seems hopeless do not need to suffer in silence. Please consider contacting a skilled bankruptcy attorney for a free consultation to at least find out what solutions declaring bankruptcy could offer in your specific case. Bankruptcy was created to help consumers like you, and there is absolutely no shame in taking advantage of that institution. You can always pay it forward later by helping others out once you get back on your feet. For now, focus on your family and getting your finances in order. Things can get better.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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