Some people don’t want to file for bankruptcy because they see it as a failure. They think that they are shirking their duty to pay off the debts they owe and that it will have a negative impact on the economy. This isn’t the case.
For some filers, the need to file becomes evident when they can’t keep up with their bills. This might not even be due to their own fault. Medical emergencies and chronic conditions can lead to a lack of income and an influx of medical bills.
When people are ready to file for bankruptcy, they should make sure that they use a reputable attorney. Some people who can’t afford attorney fees get sucked into scams by trying to use petition preparers or doing it all themselves. Unfortunately, both of those can lead to costly errors that make the experience more difficult than it needs to be.
Having a successful bankruptcy case can benefit the filer, as well as the economy. People who have their debts wiped out can end up with a better income, and eventually, a better credit score. This can boost their buying power, which can benefit the economy in general.
There is no charge for an initial consultation with our office. Schedule an appointment and find out how Chapter 7 or Chapter 13 might helf you attain financial freedom. It’s important to understand your options.