Tax season is approaching quickly, and many have already filed their returns. Households eagerly anticipate their 2021 federal and state tax refunds, with some already in receipt. While some filers plan to use their refunds for necessities or luxury purchases, others may choose to address their credit card or medical debt, aiming to reduce their balances.
If you’re grappling with debt, your tax refund could be crucial in alleviating your financial burdens. While many can’t eliminate all unsecured debt with their refunds, using it as a strategic tool can be beneficial. For those unable to clear their debt entirely, considering bankruptcy this tax season might be a wise option.
Don’t waste your refund. Instead, leverage it to achieve a debt-free 2022. Debtors can use their refunds to pay for bankruptcy attorney fees and filing costs before filing.
Consider using your 2021 tax refund to eliminate:
- Credit card debt
- Medical debt
- Payday loans
- Repossessions
- Foreclosures
- Garnishments
- Collection judgments
Don’t wait until the last minute to decide if bankruptcy is right for your family. Be prepared with a plan for when your refund arrives. Know your options and take the first step towards financial freedom.
