You may look at this title and think “Of course it is! Why are you telling me something that is so obvious?” Well, I am writing this because in my years of discussing the possibility of bankruptcy individuals, it is apparent that the great majority of people do not view bankruptcy as a personal decision. People worry: “What will my parents or children or other family think?”; “What will my neighbors think?”; “What will my banker think?”; “What will my church think”; “I’ll be too embarrassed to let my house or car (that I can no longer afford) go back.”; and/or “I’ll be too embarrassed about my credit score.”
You must forget about what others may think and make your own decision based on what is best for you and your family. Many of the people whose opinions you may be worrying about may be in a similar or even worse situation than you. In addition, true friends and family are going to support you in making a decision that is best for your family.
How can bankruptcy be the “best” decision for your family? First, it could save your marriage. Many divorces are a result of financial stress. Bankruptcy may be able to wipe away financial problems caused by bad decisions and/or bad luck; thereby, removing the blame and stress that can cause marital discord.
Second and somewhat related, bankruptcy can give you some time back. Are you working a second job or lots of overtime or extremely long hours just to be able to make your minimal debt payments? If you can do it and are making progress, then by all means continue. However, if it is taking a toll on your health and/or your time with your spouse and children and/or your going to have to keep it up for 20 years to pay off the debt, then it may be time to step back and see if this is really worth the toll it is taking. Bankruptcy may be the way out.
Third, bankruptcy can stop a foreclosure of your house or a repossession of your vehicle. Or in the alternative, bankruptcy can get you out of a house and mortgage or vehicle and car payment you can no longer afford. So, bankruptcy is flexible enough to keep you in your family home, if that is what is best; or get you out of a bad deal and keep you from being sued if that is what is needed.
The bottom line is educate yourself. Send me an email. Make an appointment for a free consultation. Find out what is best for you and yours and then make your own decision. If filing bankruptcy is your decision, I am sure the people in your life you care about would rather you do this than see you go through some of the possible results of not filing.
You must forget about what others may think and make your own decision based on what is best for you and your family. Many of the people whose opinions you may be worrying about may be in a similar or even worse situation than you. In addition, true friends and family are going to support you in making a decision that is best for your family.
How can bankruptcy be the “best” decision for your family? First, it could save your marriage. Many divorces are a result of financial stress. Bankruptcy may be able to wipe away financial problems caused by bad decisions and/or bad luck; thereby, removing the blame and stress that can cause marital discord.
Second and somewhat related, bankruptcy can give you some time back. Are you working a second job or lots of overtime or extremely long hours just to be able to make your minimal debt payments? If you can do it and are making progress, then by all means continue. However, if it is taking a toll on your health and/or your time with your spouse and children and/or your going to have to keep it up for 20 years to pay off the debt, then it may be time to step back and see if this is really worth the toll it is taking. Bankruptcy may be the way out.
Third, bankruptcy can stop a foreclosure of your house or a repossession of your vehicle. Or in the alternative, bankruptcy can get you out of a house and mortgage or vehicle and car payment you can no longer afford. So, bankruptcy is flexible enough to keep you in your family home, if that is what is best; or get you out of a bad deal and keep you from being sued if that is what is needed.
The bottom line is educate yourself. Send me an email. Make an appointment for a free consultation. Find out what is best for you and yours and then make your own decision. If filing bankruptcy is your decision, I am sure the people in your life you care about would rather you do this than see you go through some of the possible results of not filing.
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