If you're wondering whether bankruptcy is still available for most Americans, you're not alone. Obviously, bankruptcy is not the ideal situation and is never something that you should rush into without thinking through things carefully. However, many Americans find themselves in the unfortunate situation of being overwhelmed by their debt problems and may not have anywhere else to turn to.
Can I declare bankruptcy? Yes, bankruptcy is still available even though there have been changes to the bankruptcy statutes in recent years. These changes were made in order to make things more difficult for the individual consumer. At least, that's what many bankruptcy lawyers and consumer advocates have claimed.
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Nevertheless, you still have a good chance of qualifying for bankruptcy if you go through the steps one by one with the help of a good legal adviser. For example, you may be required to attend mandatory credit counseling or to prove your need for bankruptcy by undertaking the means test.
The means test is a more rigorous method than was previously used. You have to carefully document all your income and expenses to show the court that you really do need bankruptcy. If you can't see yourself paying off all of your debt within the next few years while maintaining a reasonable standard of living, then you really should consider bankruptcy and speak to an attorney about this.
Just make sure that you're making a decision to declare bankruptcy only after speaking to a professional adviser and not simply rushing through things. Also, you don't want to go through the process by yourself because of the recent changes made by Congress. You definitely need some professional help from a bankruptcy lawyer to guide you through this process.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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