Sudden events like divorce, injury, or job loss can cause an individual to fall on difficult financial times. If a person’s debt obligations begin to exceed his or her monthly income, it’s time for that individual to begin looking for a solution to this financial problem. For many individuals, filing for bankruptcy is the best way to help alleviate financial burdens.
If you are considering filing for bankruptcy, one of the first things you need to know is whether or not you are eligible to file a bankruptcy petition. In the United States, every citizen is technically eligible to file this kind of petition. However, as this video explains, this is a complicated process that requires the help of a local bankruptcy attorney.