Live Chat
During This Challenging Time

We are open for business and remain dedicated to your case! All those working on-site and remotely are still available to answer your questions. The well-being of our clients and staff are vital, so we will provide updates as the situation progresses.

During This Challenging Time Close

Declaring Bankruptcy: A Strategy for Twenty-Somethings?

July 28, 2013

If you’re in your twenties, things could be a little rough right about now. For recent college graduates, job prospects are tough. Interest rates on college loans – and for debt in general – are on the rise. Moreover, statistics suggest that you’re likely to go in-and-out of the job market, make several expensive moves and experience costly personal turmoil in the near future. With this in mind, declaring bankruptcy may be tempting.

For some twenty-somethings, declaring bankruptcy may be the right decision. Filing Chapter 7 or Chapter 13 bankruptcy can be like hitting the “reset” button, letting you shed credit card debt, become revenue positive and reduce your stress level. And for debtors who end up so deep in debt that bankruptcy is the only way out of the hole, filing sooner may be better than filing later.

On the other hand, other twenty-somethings may make the wrong choice if they file. Student debt is infamously difficult to shed in bankruptcy, meaning that your primary financial obligation may stay on your balance sheet. Moreover, by putting a personal bankruptcy on your credit rating, you could reduce your ability to access the credit you need to start out in life. This includes formal credit – like a car or home loan – as well as informal credit – like whether an apartment owner will rent to you.

The bottom line is that these decisions are difficult and that for many debtors in their twenties, it’s best to get good advice. Fortunately for you, the attorneys at the law firm of Fears Nachawati specialize in this area of law and, as a result, can guide you through the tough decisions you may face. Find out how we can help by contacting us today. The consultation is free and the advice could be priceless.


Use the form below to send us a note, call us at 214.890.0711 or chat with us live. We are eager to help with your legal needs. Please keep in mind that any unsolicited information sent through our website cannot be treated as confidential. Contacting us through this site does not create a representation relationship with Fears Nachawati.

Contact Us


With offices across Texas, and attorneys licensed in Texas, Florida, Arkansas, New Mexico, California, Illinois, District of Columbia, Missouri and Oklahoma, Fears Nachawati is dedicated to attaining the best possible solutions for our clients’ business and personal needs. We strive to be professionals who are creative, empathetic and reliable.

All Areas Served

We Can Help

Contact Fears Nachawati today

Free Consultation

Live Chat (Online Now)