- Category: Bankruptcy
- Published: Wednesday, 02 December 2015 15:23
- Written by CBC
- Hits: 576
Deciding if and when to declare bankruptcy can be a difficult, if not tricky, decision. It’s hard enough being in a position where you are overwhelmed with creditors knocking on your door looking for a payment or even trying to repossess some of your items. When should you declare bankruptcy?
The first thing to do is make sure you understand how everything will work. Will declaring bankruptcy erase all of your debts or only some of them? How long will your finances and credit be affected? Will you need to give up an automobile or second home? All of these things are important to consider before you file for bankruptcy.