3) "What can push you into bankruptcy?"

There are many things that can happen to our financial situation that can make us think of bankruptcy. We may have difficulty in paying bills because of unemployment or underemployment, because of medical catastrophes and the expenses that often go with them. We may be borrowing from one source, like credit cards or family loans to pay another on an all too frequent basis. We may have had to get a 2nd mortgage on our home or are thinking about it, to consolidate some debts, and even when we work out the new monthly payments on that 2nd mortgage, we still find ourselves in a hole. We may have creditors calling and hounding us at home, work, calling our family, our neighbors, or even our employers. We may have bill collectors actually coming to our home or job. Maybe our home is being threatened by foreclosure, and we are in danger of losing it. We may have vehicles, appliances, jewelry or other possessions in danger of being repossessed. Maybe co-signers are being forced to make payment on our debts. Perhaps the IRS or some other creditor is ready to, or is already garnishing our paycheck, seizing bank accounts, or forcing the close of our business. It could be that someone is filing a lawsuit or taking a judgment against us. Maybe we’ve had a financially draining divorce. All of these can cause great economic strain.

If any of these scenarios sound like something that is happening in your life now, then chances are very good that getting a fresh start through personal or consumer bankruptcy is worth your serious consideration.