Singular events such as unemployment, divorce, an illness, lawsuits or significant IRS debt often force people to struggle financially. If any of the following are true for you, you might want to consider bankruptcy as an option to getting back on your feet.
• You cannot pay your bills as they come due
• You start considering using your VISA card to pay your MasterCard
• You receive a letter from your mortgage company threatening foreclosure;
• You face the repossession or imminent repossession of a vehicle;
• Your wages are garnished
• You are considering a home equity loan or cashing in your 401(k) or your IRA to consolidate your bills
• You just can’t take the stress any more from collection letters and phone calls.
In the vast majority of cases, people who file bankruptcy keep all of their assets. In fact, assets like your home, car, pension fund and IRA are protected from your creditors if you file bankruptcy.

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