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While it sometimes is too early to file bankruptcy, it is never too early to determine if bankruptcy is a client's best choice, especially when a client owns a home or vehicle or where court judgments are, or will soon be, entered against a client. Bankruptcy can stop a pending eviction proceeding, but there are few to no rights in bankruptcy after a Court has ordered the eviction.

Even when bankruptcy is the right option, many consumers are reluctant to file based on misconceptions of the bankruptcy process. Here are six surprising facts about bankruptcy that may allay some of those fears

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy," involves the sale of non-exempt assets to pay back creditors. This type of bankruptcy relief is designed primarily for individuals who are struggling with overwhelming debt and cannot realistically repay their creditors.

Chapter 13 bankruptcy provides a unique opportunity for those facing financial hardship to restructure their debt and work toward achieving long-term financial stability.

his article aids both prospective clients, bankruptcy practitioners and others working with clients in determining when a client should or should not file for bankruptcy relief, including the top seven reasons to file and seven reasons not to file bankruptcy.

In many cases, bankruptcy may not be the right solution

Filing for Chapter 7 bankruptcy is a useful tool for those facing overwhelming debt, but who have few to no assets. However, filing for Chapter 7 bankruptcy involves several key stages, one of which is attending a bankruptcy hearing.

For those experiencing overwhelming debt, filing for bankruptcy is often a significant step in their journey of regaining financial stability and security. But before you file for bankruptcy, it's important to book an initial consultation with an experienced bankruptcy attorney who can better understand your needs and help determine which type of bankruptcy is best for you.

If you're dealing with overwhelming debt, bankruptcy is a useful tool for discharging most unsecured debts and regaining financial stability. However, bankruptcy is not a quick fix.

The economic instability in the United States has had an immense impact on many Americans' finances. With prices on housing, gas, and groceries skyrocketing, interest rates have also gone up.