Think Carefully Before Filing
Potential changes in bankruptcy laws are getting a lot of media attention these days. Some consumers are hurrying to file bankruptcy before the laws change – thinking this may be their last chance. But before you jump on the bankruptcy bandwagon, think carefully about the downside to your decision.
Facts to consider about Chapter 7 bankruptcy:
- Filing bankruptcy can be expensive: Court costs and attorney’s fees add up – this is money that could be spent bringing past-due accounts current, or making payment arrangements.