Considering bankruptcy is often the last option for most people trying to solve their debt problems. Knowing the terms of bankruptcy, the types of debts that may or may not be discharged, and the effects this may have on one’s credit report can help people make the right decision when considering bankruptcy.
Maybe you’ve been told by a bankruptcy attorney that this is your only way out of debt, but somehow you’re still not ready to face this reality. . I understand your reluctance. You may feel embarrassed to admit that your finances are out of control. There may be feelings of guilt for the things you did that led to your current situation. Some people even think that filing for bankruptcy is an admission of failure and that it is not something they are ready to accept. All of these feelings are normal for anyone going through a tough financial time, but let me tell you, none of these things are really what bankruptcy is.
You see, the government has provided a way for people with too much debt to get a fresh start by removing the heavy burden that their debt has caused. Laws are not meant to be an easy way out for people who just want to take advantage of the system. Rather, it is aimed at honest debtors who want to pay their creditors as much as possible but simply do not have the capacity or the resources to do so. So, when you have too much debt and you have little hope of being able to reduce the debt on your own, filing for bankruptcy may be your best alternative.
People end up in debt for a million different reasons. Common reasons you end up with spiraling debt include having too many credit cards with high interest rates, job loss, disability, and sometimes just living off. beyond your means. These are facts of life. No one is perfect and sometimes we just make bad decisions which can lead to serious debt problems. Having to declare bankruptcy does not mean that you are financially irresponsible. It only means that circumstances have led to an unmanageable debt.
It can be quite miserable to drown in debt. You may even worry about taking your mail out of the mailbox because of the constant collection letters you receive. Collection calls are stressful and make you very nervous about what creditors might do next. No matter how much you pay on high interest credit cards, the interest keeps the balance growing. Your credit has already been ruined by late payments, and there seems to be no hope.
Many people tend to overanalyze their situation to the point where they feel like their head is about to explode just thinking about their financial troubles. They thought about all the bad things that could happen to them if they file for bankruptcy without realizing that all their fears are unfounded. They lose sight of the fact that they are actually worse off by staying where they are instead of taking steps to improve their situation.
It is impossible to lead a normal life when the debt is out of control. If you’re in debt and don’t know what to do, take action by consulting a knowledgeable bankruptcy attorney who can help you decide if bankruptcy is right for you. The purpose of filing for bankruptcy is to help you start over by eliminating or reducing the debt you owe. Its purpose is to give you a chance to start over with a clean slate.
Let me assess your situation and help you explore all the possibilities. For a free consultation, call toll-free at 1-866-477-7772.
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NOTE: Due to the COVID-19 pandemic, I am offering free consultations OVER THE PHONE to anyone who needs help dealing with their debt issues.
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None of the information contained herein is intended to provide legal advice for any specific situation. Atti. Ray Bulaon has successfully helped over 5,000 clients get out of debt. For a free evaluation of your situation by an attorney, please call RJB Law Firms toll-free at 1-866-477-7772.