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Extension > Local Extension Offices > Scott > County Personal Finance Educator > Articles > Are you considering filing for bankruptcy?

Are you considering filing for bankruptcy?

young man stressed over bills

For many individuals, filing for bankruptcy can provide a way out of debt and a fresh financial start. But whether or not a bankruptcy filing is in your best interest depends on many factors and your individual circumstances.

A good first step is to meet with a consumer credit counselor. Non-profit agencies that are certified by the National Foundation for Credit Counseling will provide unbiased financial education and counseling services to help determine what is the best path for you.

Visit the NFCC website to find a NFCC agency hear you.

Visit Considering Bankruptcy to view some things to think about before you decide to file for Chapter 7 or Chapter 13 bankruptcy.

Although most of bankruptcy is governed by federal law, some aspects of bankruptcy are controlled by state law. Visit Minnesota Bankruptcy Information to understand the rules and regulations that apply to Minnesota bankruptcy law.

Related Resource

Filing for Bankruptcy — Discusses types of bankruptcy and filing procedures.

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