A company called Blitz USA has caused a problem in West Virginia by polluting the water system. As can be expected, lawsuits began to be served upon the company. While they did not make great decisions, it soon became apparent that the company could not pay the claims that were filed. They filed bankruptcy to stop the lawsuits long enough to see if they have adequate assets and insurance to cover the loses.
While individuals do not have to file bankruptcy because they polluted the waters, often they also have to file bankruptcy to stop a flow of lawsuits. Bankruptcy gives you the breathing room needed to deal with the economic bleeding and the attack on the person’s assets. It can let you start over and get a “re-do.” None of us makes all great decisions. Sometimes we get hit with things completely out of our control. If this is where you are, and you are having difficulty with your cash flow, it is a good idea to seek professional help and see a qualified bankruptcy attorney. Most good bankruptcy attorneys will give you a free consultation at no risk. You then can decide if you need the professional help.