Don’t let the lingering stigma of bankruptcy keep you from filing

Don’t let the lingering stigma of bankruptcy keep you from filing

On Behalf of | Jan 18, 2022 | bankruptcy |

Far too often, people who could really financially benefit from filing for bankruptcy don’t take advantage of this form of debt relief. Often, it’s because they fear the stigma associated with bankruptcy and the judgment of family and friends.

Filing for bankruptcy is your Constitutional right

Many people don’t know or have forgotten that bankruptcy is authorized under  the United States Constitution. In their wisdom, the Founding Fathers of the United States provided a way for the American people to find a way out of insolvency.

Filing for Chapter 7 bankruptcy gives debtors the opportunity to turn over a new financial leaf. They get to start anew rebuilding their lives and their credit rating. Because there’s no way around it — your credit rating is going to get dinged. But if your financial situation is so dire that bankruptcy is considered, your credit rating is probably already pretty low, and will normally improve after getting a bankruptcy discharge.

More people than you realize file for bankruptcy

Would you feel better about filing for bankruptcy if you knew just how many other folks took full advantage of the method of debt relief? Even our former president had multiple bankruptcy filings. You probably have friends, co-workers and even some family members who have been in dire straits with their creditors and wound up filing a Chapter 7 bankruptcy.

Don’t remain shackled by debt

There is no reason to stress over bills and screen all your calls because you are being dunned by your creditors. Make a new start in 2022 by wiping the slate clean.  Contact an attorney to discuss your situation and determine whether bankruptcy is the right option for you.