Thousands of people file bankruptcy each day because hard times prevent them from paying their bills. Job and medical problems are the most common reasons people file bankruptcy. A study by Harvard Law School showed that two out of three people in bankruptcy have lost their job and half have experienced a serious health problem. Thirty percent of bankruptcies are filed by women filing alone and the average age of bankruptcy filers is 38. Contrary to public perception, the average bankruptcy filer is well-educated, a homeowner and married. In fact, many successful people, including Walt Disney, Donald Trump, Mark Twain and Frank Lloyd Wright have used bankruptcy to get a fresh start.
Don’t wait too long.
Unfortunately, many people wait too long to file bankruptcy, which hinders the fresh start. They wait until a foreclosure has started or their retirement accounts have been drained trying to stay afloat. They wait until a judgment has been entered and garnishment is possible. Bankruptcy has been called a last resort but it should instead be one of the first alternatives you consider.
At Nancy L. Thompson Law Office, P.C. we try to make the process of filing bankruptcy as stress free as possible. We start by having clients complete and return a questionnaire that helps us make sure all the information we need is provided. We also ask you to provide several documents like a credit report, tax returns and six months of paystubs. A complete list of these documents is included in the bankruptcy client packet we’ll send upon request. The packet also contains an engagement agreement that describes our representation and the website address for completing the credit counseling required prior to filing bankruptcy. You can request this packet by emailing us at [emailprotected] or by calling 515-875-4850.
