Bankruptcy’s Exaggerated Stigma
As a bankruptcy attorney, we get clients that are extremely nervous about the idea of filing a bankruptcy. For many people, the word bankruptcy carries the stigma of social and financial ramifications. However, we understand that it can be in your best interest to consolidate your debts. We also know that it is important for you to take control of your unmanageable financial commitments. Or simply to be able to repay some of your debts. In cases like this, bankruptcy can be your best solution because bankruptcy will help you to eliminate all or most of your unsecured debt.
Bankruptcy Process
Bankruptcy is a complex legal process. Despite the fact that there are a million websites that recommend people do it themselves, and even give free unsolicited advice, it is always advisable that you work with a bankruptcy attorney with knowledge and experience. We have the experience and pay attention to detail. Therefore, we can guide you through the entire process, avoiding any of the potential legal pitfalls along the way. One of the most important things that you will do with a bankruptcy is get rid of the collectors who will be harassing you if you have unpaid bills.
Stigma
There is a lot of stigma often associated with bankruptcy. This is because people believe that going into bankruptcy means that you are bankrupt. However, nothing could be further from the truth. The court system of the United States has found that giving people a second chance financially often results in them being able to become productive financial participants once more. In the late 1920’s stock market crash, people took extreme measures to avoid what they believed to be the shame of being bankrupt.
In a society that highly prizes success, bankruptcy is too often thought of in terms of being a failure. Again, nothing could be further from the truth. A bankruptcy is a means by which you are taking accountability for your inability to pay all of your bills on time so that you can move forward.
Corporations
Did you know that corporations file bankruptcy regularly so that they can reorganize and continue to function? There is no stigma associated with companies like Radio Shack filing for bankruptcy and there shouldn’t be for you. While personal bankruptcies are not exactly the same as a corporate bankruptcy, the basic principles still apply.
Being your bankruptcy attorney means that we will advise you on a system to give you a fresh start. Bankruptcy laws which have been around for hundreds of years, all contain fresh start language. This is because of bankruptcy is not the business of humiliation or causing people to feel defeated. Rather the ability to file for bankruptcy was created to help liberate people from debt which they simply cannot pay. Once you have been freed of the debt, you can start afresh without having to constantly look over your shoulders. You no longer need to lookout for bill collectors, or worrying about who might be coming to put a lien on your house tomorrow.
NOTE: This is for informational purposes only and does not constitute legal advice.