Bankruptcy is never an easy decision, but sometimes it’s the best or even only option. The first thing to understand is that bankruptcy is not a failure. It’s a legal way to get out of debt and start fresh. Many people who have filed for bankruptcy are successful, hardworking people who have just fallen on hard times.
That being said, bankruptcy is still a serious matter and should not be taken lightly. It will have a major impact on your finances and your credit score. It will also stay on your public record for 7-10 years, which can make it difficult to get loans or other types of credit in the future.
So while bankruptcy may be the right choice for you, make