Taking the Fear out of Bankruptcy

fearThere’s nothing that creates anxiety and fear quite like wondering if you’ll be able to make financial ends meet. Threats to our financial security can lead to panic, worry, and even hopelessness. For some people, even thinking about bankruptcy makes them fearful and uneasy. They may believe inaccurate information about bankruptcy, feel that it’s a failure to file, or just not know where to start. If you’re living with suffocating debt, it’s time to get the facts about bankruptcy to determine if it might provide the financial relief you need.

Get the Facts

Not knowing the details and processes involved in bankruptcy can lead to filling in the blanks with what you think will happen. Maybe you’ve heard filing bankruptcy means you won’t be able to purchase a home or car for 10 years. Or you might fear that once you file, all your friends and associates will know all the details of your finances. I’m here to put your mind at ease. Bankruptcy is actually a simple, common legal proceeding that can help to improve your financial situation in the long run. While your credit will take a temporary dip and you’ll need to live on a tight budget for some time, your credit score will improve and you’ll be able to make large purchases in just a few years.

The Real Deal

We all want people to think well of us, so of course no one wants their financial difficulties broadcast to people in our lives. But I have good news for you. There is really no reason that anyone in your life will need to know about your bankruptcy unless you choose to tell them. Aside from your creditors, attorney, and trustee, you aren’t required to tell anyone about your bankruptcy. However, you may want to share your struggles with a trusted friend or family member. Just like any trial in life, it’s easier to have someone by your side to support and encourage you. If you worry about being judged, just remember that there is no shame in declaring bankruptcy, and you’re not alone. In 2013, over one million people filed for bankruptcy in the US, and most of them are hard workers who have simply struggled with difficult life circumstances. Bankruptcy is a way for consumers to get a new start in life, rather than being enslaved to unmanageable debt for years.

Look to the Future

I understand that making a bold step in life such as filing bankruptcy can be scary and overwhelming, especially if you don’t really know about the consequences of this decision. Rather than living in uncertainty and fear, give me a call so we can discuss your situation. I’ll make sure you have the information you need to make the best possible choices. We’ll make a plan together to get your finances back on track, and soon you’ll be planning for the future rather than focusing on your debt.