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When is the right time to file bankruptcy?

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I am in a confusion... somewhere it's written that bankruptcy is good whereas in some websites they say one should look for other debt relief options. So, my question is, when should one think of filing bankruptcy?

It's best to file bankruptcy under the following circumstances:

  • Creditors have filed a lawsuit against you

  • You want to stop collection calls

  • You want to postpone foreclosure

Sub: #1 posted on Wed, 11/29/2017 - 11:27

(Posts: 3854 | Credits: 390.42)

Since bankruptcy will hurt credit score majorly, you should consider other debt relief options instead of it. But, it is a good option to start a fresh.

Sub: #2 posted on Wed, 11/29/2017 - 17:41

sanderspatricia29 sanderspatricia29

(Posts: 497 | Credits: 53.02)

It's best for you to file bankruptcy if you desperately want to stop harassing collection calls or creditors have filed a lawsuit against you.

Sub: #3 posted on Thu, 11/30/2017 - 17:41

tiarajoseph11 tiarajoseph11

(Posts: 254 | Credits: 37.61)

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