Most people who
contact me about bankruptcy have financial trouble because of unemployment,
marital difficulty, serious illness, a business failure, or some combination of these problems.
Contrary to what you may have heard, in my experience, it is uncommon for a person to file bankruptcy because he or she has been over spending and living a lavish lifestyle.
People with severe financial difficulties are under a lot of stress. They face a debt collection process which can be merciless – at a time when their self-esteem may already be undermined by a difficult life experience such as a job loss or a divorce. The stress may be so strong that it is damaging the person's relationships with his or her family members and friends.
Contrary to what you may have heard, in my experience, it is uncommon for a person to file bankruptcy because he or she has been over spending and living a lavish lifestyle.
People with severe financial difficulties are under a lot of stress. They face a debt collection process which can be merciless – at a time when their self-esteem may already be undermined by a difficult life experience such as a job loss or a divorce. The stress may be so strong that it is damaging the person's relationships with his or her family members and friends.
If bankruptcy is the right option for a person in these circumstances, he or she should pursue it, sooner rather than later.
Fear of what others may hear, think, or say is not a good reason for avoiding bankruptcy. Filing bankruptcy is fairly common and is not shameful. Bankruptcy is provided for in the Constitution of the United States. The Bankruptcy Code exists to help people who need a “fresh start” or the time and flexibility to reorganize their affairs. If anything, bankruptcy is underused, not overused, by ordinary people.
If bankruptcy is not a good option for a client, I do not hesitate to say so and I suggest other options. But bankruptcy is often the best option.
A person who is deeply in debt needs to put the family first - our strongest obligations are to ourselves and to those closest to us. Credit card companies and other lenders can look out for themselves. Delaying what needs to be done often makes problems worse. Inaction can be a disservice to a debtor and to the debtor's family.
My initial bankruptcy consultation
is free and confidential. If you are currently overwhelmed by debt, please contact
me by phone or email for an appointment.
Fear of what others may hear, think, or say is not a good reason for avoiding bankruptcy. Filing bankruptcy is fairly common and is not shameful. Bankruptcy is provided for in the Constitution of the United States. The Bankruptcy Code exists to help people who need a “fresh start” or the time and flexibility to reorganize their affairs. If anything, bankruptcy is underused, not overused, by ordinary people.
If bankruptcy is not a good option for a client, I do not hesitate to say so and I suggest other options. But bankruptcy is often the best option.
A person who is deeply in debt needs to put the family first - our strongest obligations are to ourselves and to those closest to us. Credit card companies and other lenders can look out for themselves. Delaying what needs to be done often makes problems worse. Inaction can be a disservice to a debtor and to the debtor's family.
first thing I would do - cut all my credit cards!
ReplyDeleteA lot of times bankruptcy is a result of an unfortunate event, but also unreasonable spending.
Lehigh County Law