byAlma Abell

Do you currently feel like you are spending more money every month then you are earning? If so, you’re not alone. Millions of Americans currently feel like their financial situation is slowly getting worse because of the increasing amount of bills they have to pay. Unfortunately, this leads many people to make the decision to file for bankruptcy. However, before you call one of the Bankruptcy Attorneys in Dayton Ohio to see if you should file for bankruptcy, you should consider some of the advantages and disadvantages of bankruptcy.

One advantage of filing for bankruptcy is that it will put a stop to creditors contacting you at work or at home. Plus, it will prevent them for sending you letters stating they are going to take legal action, as well. Another advantage of filing for bankruptcy is that you should be able to keep your home. In some situations, people are also able to keep their automobile after they file for bankruptcy, too. Also, filing bankruptcy prevents you from having to borrow money from friends and family, as well.

Even though it may be quite appealing to file for bankruptcy, it’s important to realize it’s not always the answer. After you file bankruptcy, you may have a difficult time opening a checking account at most banks. Plus, some people have struggled to get a job after they have filed bankruptcy. This is because some employers require access to your credit report before they will extend an offer of employment to you. Plus, a bankruptcy ruling can stay on your credit report for up to ten years and can make it difficult to get bank loans.

There are obvious advantages and disadvantages of filing for bankruptcy. If you’re still unsure about whether you would like to file for bankruptcy, you should contact one of the Bankruptcy Attorneys in Dayton Ohio. If you don’t have an attorney in mind or are in need of a free consultation, you should contact Miami Valley Bankruptcy to schedule an appointment. They will be happy to provide you with a free one to two hour consultation. During that time you can discuss your situation and they will tell you if they feel like you should file for bankruptcy or not.