should i file bankruptcy quiz

A “Should I File for Bankruptcy?” quiz could be a helpful tool to guide individuals who are considering filing for bankruptcy but are unsure if it’s the right path for them. Here’s a sample quiz with some common questions that could offer a preliminary indication.

Note that this quiz is merely a starting point and should not replace professional legal advice.


Should I file for bankruptcy? Quiz

Instructions:

Answer each question below as honestly as possible. Tally your score at the end to see the recommended action.


Financial Situation

  1. Do you struggle to pay your monthly bills?
    • Yes (+2)
    • No (0)
  2. Have you missed loan or credit card payments recently?
    • Yes (+2)
    • No (0)
  3. Is your debt (excluding mortgage) more than 40% of your income?
    • Yes (+2)
    • No (0)
  4. Have you depleted your savings?
    • Yes (+2)
    • No (0)

  1. Are you facing foreclosure or eviction?
    • Yes (+3)
    • No (0)
  2. Has your wages been garnished?
    • Yes (+3)
    • No (0)
  3. Are creditors threatening to sue you?
    • Yes (+3)
    • No (0)

Emotional Well-being

  1. Do you lose sleep over your financial situation?
    • Yes (+1)
    • No (0)
  2. Does your financial stress affect your work or relationships?
    • Yes (+1)
    • No (0)

Tally Your Score

  • 0-5: Bankruptcy might not be necessary. Consider other debt relief options.
  • 6-10: Consult with a financial advisor and consider the pros and cons of bankruptcy.
  • 11-18: Bankruptcy might be a viable option. Consult a bankruptcy attorney for professional advice.

This quiz is only a guideline. For tailored advice, consult professionals in finance and law. 😸