Is Bankruptcy for You?
How do you know if you should file bankruptcy?
How do you know if you need bankruptcy?
You are probably struggling with the decision to file bankruptcy. We understand. We know you are thinking of things like the stigma, your credit, your job or employment prospects, and many other factors. The reality is none of those things have anything to do with the decision to file bankruptcy. That is not to say they are not important, but those factors are subjective (which is the clinical way of saying those factors are in you head) and out of your control. If you are even remotely considering bankruptcy, your debt is already out of control. Being in too much debt will impact your credit, employment, and self-worth far more than bankruptcy. Bankruptcy is a tool. It is financial tool that has specific uses, which is to eliminate debt so you can get back on financial track.
So, to help you determine if you need bankruptcy, Personal Touch Bankruptcy has devised an objective formula. This formula will tell you if you have too much debt and are a candidate for bankruptcy.
Go ahead, give it a try.
Debt to Income Ratio Calculator
Gross Annual Income
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Total Balance Due on Unsecured Debt
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