As we traverse these unprecedented times, we may face a reduction in cash flow and increased debt, eventually leading to insurmountable financial hardship. The only option to receive some monetary relief would be to declare bankruptcy. Although, due to the cash crunch, you may decide to save on lawyer’s fees and file the petition yourself, which is technically possible.

Over the years I have had several clients whose driver's license was suspended because of unpaid judgments from having an accident when driving without insurance. (Note: I do not recommend driving without insurance!!!) Not having a drivers license is terrible, because almost everyone uses a car to get to work. If you can't work, you don't earn money; if you don't earn money you can't pay your bills.

Bankruptcy can be challenging for anyone, no matter the circumstances. There are a series of requirements and tasks that people have to get through. They have to make sure that they have all the necessary documents and paperwork. If they do not, they have to work on creating or compiling it. Additionally, there are several legal requirements that they have to get through, especially if there are clients or other investors. The rules vary in terms of the number of people involved, based on whether you file as an individual, business or large company. Bankruptcy for an individual and a company is not the same but does follow a similar framework, so it makes sense to talk to an expert to learn your next steps.

Like lots of people, I have an Amazon account. And in that Amazon account I had a credit card listed as for payments.

If you find your debt becoming overwhelming and don’t believe you can pay them, filing for bankruptcy will give you debt relief and a second chance for a fresh new start. However, if you do not know the process, it might be difficult to file for bankruptcy.