Going through a finical crisis is a confusing and frustrating time. As you struggle to stay afloat, you may think about declaring personal bankruptcy. One helpful thing to keep in mind is that you are not alone in your financial struggle. Filing for bankruptcy is nothing to feel ashamed about.
Millions file for bankruptcy every day for numerous reasons. Some of the most common factors that cause individuals to declare consumer bankruptcy include the situations.
Health care costs
When someone encounters health problems, it can often result in financial trouble. In fact, over half of the bankruptcies filed involve medical issues. Having to miss work and dealing with high heath care related expenses can easily result in financial downfall.
Divorce or separation
Marriage can be a beautiful experience, providing many with both emotional and financial stability throughout the relationship. When that relationship ends, however, it can take its toll on everyone involved. Property division, legal costs, support payments, and an increase in living expenses can all contribute to unfortunate money problems.
Losing a job
Job terminations and layoffs are often unexpected and can send many people into financial disaster. Even in situations involving severance pay, lack of a job can drain your savings quickly.
Giving or lending money
Being generous and helping others are often good ways to live your life. However, too much generosity can lead to financial uncertainty for some. When you ignore your personal financial stability, it may lead to going bankrupt.
Bankruptcy is a challenging situation, but with the help of the experienced lawyers at McKinney & Associates we hope, you’ll find that a weight is lifted off your shoulders as we help you navigate this process so that your only thought is to your fresh start and brighter future.
Book Your Consultation
If you have questions regarding bankruptcy, or you are considering bankruptcy, but need some help determining if it the right step for you, book your free initial consultation with us today-call our office at (719) 633-4541 or book online.