Should You Consider Filing Bankruptcy?

Only a skilled bankruptcy attorney can offer advice about your specific situation, but there are some indicators that tell us that you may be having financial difficulties and that you should consider talking to an attorney.

It is appropriate to consider bankruptcy when your income is insufficient to pay your debts. That can happen whether your income is $10,000 a year or $150,000 a year. The tool below is not legal advice, it is a way to gauge the level of your debt to your income which can indicate trouble that bankruptcy MAY be able to assist with.

Documents you need

  • Grab your last paystub (and your spouse's if married)
  • Gather up your credit bills: credit cards, mortgage, car loans, etc.
  • Gather up any medical bills, or personal loans

    • Entering Data

    Bills
    Enter the outstanding balance for all credit cards, medical bills and personal loans only.
    Enter Monthly mortgage payment (or rent)
    Enter Monthly car payment

    Income
    Enter the net pay (what you took home) from your last paystub
    How often are you paid:
    Enter 1 if monthly, 2 if paid twice a month, 3 if paid every two weeks, 4 for weekly

    Enter spouse's net pay (what s/he took home) from their last paystub
    How often is s/he paid:
    Enter 1 if monthly, 2 if paid twice a month, 3 if paid every two weeks, 4 for weekly