Many businesses in financial distress have the option to file for bankruptcy. This option is also afforded to consumers through Chapter 7 and Chapter 13 bankruptcy protection. 

According to government statistics, most consumers choose to file for Chapter 7. However, before filing for bankruptcy, most consumers are required to receive credit counseling from an approved agency. 

If you or anyone you know is considering filing for bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100.