Whether You Are Rich Or Poor, You Can Still File For Bankruptcy


Living in the US and being subjected to the United States law makes you eligible to file bankruptcy if you are under extreme financial stress. The bankruptcy law does not discriminate against you if you are making $30,000 a year or even $1,000,000+ a year, as long as you are facing serious financial hardship. The bankruptcy law does not discriminate one based your basic First Amendment Rights, or anything related to how much you earn, or how much you owe to assorted creditors. If you have a legitimate reason to file bankruptcy, just about every bankruptcy court in the United States will allow you the bankruptcy judgment.

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It also does not matter to the bankruptcy court if you have $1,000 in debt, of if you are $1M in debt. In order to achieve a successful bankruptcy petition, you will need to account for to the bankruptcy court of your inability to pay off the debt by substantiating the claim with legally documented bankruptcy paperwork. Once recognized and reviewed, just about everyone who is filing for bankruptcy can achieve a successful bankruptcy discharge. Do not feel embarrassed that you have to file bankruptcy. Even some of the most prominent figures in this society such as real estate tycoon Donald Trump and famed boxer Mike Tyson had to file for bankruptcy shelter to evade their creditors.

The only factor that affects your bankruptcy status is your ability to pay off your debt or not, and not much how much you can make per year, or how much debt you have outstanding. You should not worry about what others might perceive you or think of you if you had to file for bankruptcy shelter. You should not feel embarrassed if you need to file for bankruptcy. If you can swallow your own pride and file for bankruptcy, you can have a shot with a superior financial future. Would you rather be in heavy debt for the rest of your life just so that you can say you had never filed for bankruptcy? Be rest assured that legally anyone will be allowed to file for bankruptcy protection, as long as it not done knowingly to break the law. If you know that you will be filing for bankruptcy and knowingly charged hundreds and thousands of dollars on your credit cards to buy expensive items, then your bankruptcy can become a sham and therefore not be given the discharge. When you are filing bankruptcy, you are looking for the bankruptcy court to discharge most, if not all, of your outstanding debt as the final judgment of your case.

You should not doubt if you are eligible to file for bankruptcy shelter, but you should really question if you need to file bankruptcy or not? Filing bankruptcy is not a rash decision you should make overnight because it will have life changing consequences for many years to follow. There are many disadvantages and advantages for taking the legal action of filing bankruptcy. If you do not know what is involved and what to anticipate in a bankruptcy process, then you should look for the advice of a qualified bankruptcy lawyer. If you have the means to hire a bankruptcy lawyer, the bankruptcy lawyer will be able to answer all your questions about this entire process and help you attain the desirable outcome.


What Is Bankruptcy

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