There’s just not enough money at the end of the month for all the bills you have to pay. Maybe it’s due to a layoff or an illness. Whatever the reason, you fell behind on your mortgage and now the mortgage company wants to take your family’s home. If you are facing foreclosure and cannot work out a deal or other alternative with the lender, bankruptcy may help.
Did you know that filing for bankruptcy can stop a lawsuit? In fact, thousands of bankruptcy cases are filed to stop collection lawsuits as well as prevent judgments from being entered.
You’re not alone. According to CNN’s website, medical bills are the cause of more than 60 percent of U.S. bankruptcies. If you or a family member have ever been hospitalized or suffered from a long-term illness, you are aware of the high costs of healthcare.