It can be difficult to imagine yourself going through bankruptcy, especially if you were always good at managing your money. You may be distressed over the fact that you lost your job, became disabled or suffered other problems that caused you to fall behind on your bills.
You are not alone in this situation. Many people struggle to make ends meet at one time or another. Even those who earn high salaries could find themselves struggling with money and turning to bankruptcy if they fall ill or live beyond their means.
What should you do if you can't pay your bills on time?
If you are struggling to pay your bills on time, the first thing to do is to reach out to your creditors. Talk to them about your current problems and see what they can do for you. Some people have insurance policies built into their credit cards, so if they're disabled or lose their jobs, they can have the balance forgiven. Contact your creditor to let them know what's happening, and they may have a solution.
If that doesn't work, another option is going to be bankruptcy. Your attorney can talk to you about your specific bankruptcy options, but most people go through Chapter 7 liquidation bankruptcy or Chapter 13 bankruptcy. Each has its own requirements that you'll need to meet before you can use it to discharge your debts, but the right plan can help you eliminate your debt for good.
Don't allow yourself to be consumed with fear over your debt. Your attorney can help you get on the path to financial freedom.