According to the Bankruptcy Institute, there were 87,684 bankruptcy filings in the United States in July of 2013. The top three states with the most bankruptcy filings were Arizona, California, and Nevada in 2012. With these numbers in mind, you may be asking when should you file for bankruptcy if you are having difficulty paying your debts.

Determining when should you file for bankruptcy, you may find yourself in a difficult situation, both financially and emotionally. However, if you do find that you are facing those questions of when should you file for bankruptcy, you should take a look at these facts about bankruptcy.

There are two common types of personal bankruptcy, and you need to decide which one will be best for you. The first is Chapter 7 is the most common and is also known as liqu Continue reading →