[COLUMN] Can bankruptcy change your life for the better? —
AS A bankruptcy attorney, I’m often asked, “How will filing for bankruptcy change my life?”
I think people ask this question because of the negative things they may have heard about bankruptcy from friends, family, coworkers, and neighbors. They think bankruptcy means they will forever be considered pariahs in our economy. So instead of focusing on the pros and cons of getting out of debt, they tend to focus more on the possible downsides. Of course, the decision to declare bankruptcy should never be taken lightly, but if it suits your situation, it may be the very solution you need to put the past behind you and move on to bigger and better things. in your life. Again, while bankruptcy isn’t for everyone, millions of people who have no way of getting out of debt have found it to be the BEST thing they’ve ever had. made to start again. It proved to be a lifesaver for people who found themselves in a financial situation from which they could no longer extricate themselves. Yes, debt can be a huge trap for many, and when you don’t have enough resources to pay your debts every month while maintaining a fair standard of living, you often have no choice but to keep borrowing just to survive. It can become a vicious cycle where you find yourself buried deeper in an ever-widening financial hole. Bankruptcy might be the tool you need to save yourself from being buried under a mountain of debt.
If you can pay your bills, YOU SHOULD. But if you’ve done your best, but have reached the point where nothing less than filing for bankruptcy can help you, chapter 7 v. chapter 13 could be a big turning point in your life. Bankruptcy gives you the chance to erase the past, learn from all the mistakes you’ve made, and start over. Where would most of us be today without having been given a second chance? That’s exactly what bankruptcy provides – another chance to rebuild your finances, your credit, and your life.
There are many positive changes that can come from filing for bankruptcy. First, peace of mind. How about a good night’s sleep for a change? If you have creditors constantly harassing and calling you, the instant relief that bankruptcy brings allows you to breathe, think and feel like a human being again. If creditors threaten to take what little you have, bankruptcy can also protect everything you’ve worked so hard for, and you can sleep better at night knowing that creditors won’t be able to follow through on their threats.
Once you are relieved of the burden of debt, your future can become exciting again. Regaining control of your finances is just the first step. Once you are debt free, you may now be able to plan for retirement, your children’s education, or start saving again. You can stop living your aimless life without a financial plan. Life after bankruptcy depends on what you do after the law gives you that badly needed second chance to recover and rebuild your life.
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NOTE: Due to the COVID-19 pandemic, I am offering free consultations OVER THE PHONE to anyone who needs help dealing with their debt issues.
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None of the information contained herein is intended to provide legal advice for any specific situation. Atti. Ray Bulaon has successfully helped over 5,000 clients get out of debt. For a free evaluation of your situation by an attorney, please call RJB Law Offices toll-free at 1-866-477-7772.