Bankruptcy Is A New Beginning — Not The End

Most debt problems don’t go away and solve themselves. They are there when you go to bed at night, and they’re still there when you get up in the morning. They can cause a lot of ulcers, sleepless nights, stress and even physical sickness. As a bankruptcy attorney for the last 17 years now, I’ve seen the devastating effects of serious debt problems on people’s personal lives, their businesses, their families and their marriages.
Facing serious debt problems often causes severe anxiety and fear about the future. What will happen to me and my family if I get sued by creditors? Can they garnish my wages or freeze my bank accounts? Will I have enough to buy food, pay my rent or mortgage, and keep my head above water?
The worst thing that you can do when you are in this situation is to pretend that everything is okay until one day your situation becomes a financial emergency. Now, how can filing bankruptcy possibly protect you? Well, if I were to guess, you’ve probably heard a lot of negative things about bankruptcy. You’ve probably heard that once you file, you will never be able to buy anything on credit again. If this is the only thing that’s stopping you when you know for a fact that it’s your only realistic option in getting out of debt, what if I told you that on average, people who file bankruptcy can rebuild their credit in as little as three to four years?  That’s right.  Bankruptcy is a beginning, not the end of the world.
After bankruptcy, there are positive steps you can take to rebuild your credit. Most people who file bankruptcy have a tarnished credit rating anyway due to late payments, collection accounts, lawsuits, etc. on their credit report and as long as they remain delinquent, creditors continue to report them to the credit bureaus month after month. Filing bankruptcy stops the reporting of negative information.
Don’t get me wrong. Bankruptcy is certainly not for everyone but when appropriate for your situation, you may find yourself thinking why you hadn’t done it sooner to end debt suffering. Filing for bankruptcy protection automatically stops all creditor actions such as harassing phone calls, collection letters, lawsuits, wage garnishments, foreclosure and repossession.
Consulting with an experienced and knowledgeable bankruptcy attorney should be your first step in helping you determine which solution is best for you. When appropriate, bankruptcy relief can be your first step in rebuilding your finances, your credit and your life.
Call my Valencia office at 866-477-7772 to request a free initial consultation.