Bankruptcy is a 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 18 years, 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. 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. But 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.
Filing for bankruptcy protection automatically stops all creditor actions such as harassing phone calls, collection letters, lawsuits, wage garnishments, foreclosure and repossession.  Generally, there are two types of bankruptcy for individuals. You can either wipe out debts you can no longer pay (Chapter 7) or you may consolidate all your debts into one low monthly payment and pay your creditors based only based what you can afford (Chapter 13).
Bankruptcy relief can be your first step in rebuilding your finances, your credit and your life.  Remember that your past doesn’t equal your future. You have the power to change your life by taking action now.
To request a free confidential consultation, call RJB Law Offices at 1-866-477-7772.