It is no secret that filing for bankruptcy will cause you to lose some of your assets. These assets are taken by the bankruptcy trustee to pay off debts owed. Unprotected assets, such as a tax refund, are susceptible to becoming part of the bankruptcy estate.

Many people experience financial problems in their lives. There's no doubt that this is a very difficult situation to deal with. It's a relief to know that you can always turn to bankruptcy when things get too out of control. Filing for bankruptcy can help you get a new start on life.