If you are like many people who have been struggling financially, Bankruptcy is the last thing you want to do. You may have been fighting for months or years to avoid having to even think about talking with a bankruptcy attorney. Who can blame you? Bankruptcy is a scary word that carries a so called stigma with it. You may have heard horror stories about bankruptcy and what it can do to your credit and your assets. After all, when a person on wheel of fortune spins and lands on bankruptcy they take everything away from them!
Well, fortunately, bankruptcy is actually in place to help people who are struggling and in over their head financially. Bankruptcy is not there to punish, or rip everything you own away from you. Bankruptcy law is there to help honest but unfortunate people get a fresh start.
Now, how do you know if it is time to seek professional bankruptcy advice? In my opinion if you feel strapped financially and have debt that you are either behind on, or struggling to stay current on it is time to talk to a bankruptcy attorney. Most of us will offer a free initial consultation to evaluate your financial condition and see if bankruptcy is a good fit. If you don’t need to file, or we see other options we can also discuss those. There may be a few tweaks that could be made in your budget to avoid having to file bankruptcy.
Although I make a living representing people in bankruptcy court, I never recommend that a person file a chapter 7 or chapter 13 bankruptcy unless it is truly in their best interest. If it appears at the consultation that bankruptcy will help the client I can discuss exactly how the process works and the impact that it will have on their life. Generally it can offer an enormous amount of financial relief and help people get back on their feet.
Since the initial consultation is generally free I see no reason to get in and see an experienced bankruptcy attorney to discuss your options. At a minimum you can get educated on your options and begin making informed decisions on how you can get debt relief.