Starting Over Finding Hope When Bankruptcy Is Your Only Option

Facing the prospect of having to file bankruptcy can be scary to a lot of people, especially if they are facing serious financial issues for the firs time in their lives.
What will happen to me and my family if I file bankruptcy? Can I keep my home, car, and other assets? Is this going to ruin me forever? How long will the bankruptcy stay on my credit?
Even picking up the phone to call an attorney can be nerve-wracking for most people because they have never had to deal with the legal system or any court their entire life. That’s perfectly understandable when you are dealing with dealing with the unfamiliar. However, waiting too long to seek legal help can also backfire. Property can be lost. Creditors may get the upper hand and take advantage of the fact that you don’t know your legal rights.
I always tell people that bankruptcy laws were created to protect people, not hurt them. This is one area of the law where you can use the legal system to your advantage if you really need help. A lot of people who file for debt relief also go through a wide range of emotions. Most of them, of course, are relieved to find out that they do not need to struggle with their debt problems anymore and that they could finally start over.
Life becomes normal once again. They don’t need to be afraid of picking up the phone anymore or opening their mailbox not knowing what they may find. Finally, these people can open a bank account again and start saving for the future.
As I said, a lot of people who end up filing for Bankruptcy usually do so as a last resort. Deciding to file right away may not be the best thing to do in some situations. In other cases, it is necessary to file immediately in order to protect property, wages, bank accounts and other assets from being taken by creditors. Once a creditor obtains a judgment, that creditor may proceed to place a lien against property that you own, garnish your wages or clean out your bank accounts.
FACT: If you are honestly doing your best to pay your creditors but simply can’t, the law provides a remedy for your situation. Being bankrupt is not a conscious choice that people make but rather a negative consequence of poor financial decisions that have already been made in the past. But the past is gone, and life must go on.
If you’ve made some mistakes (who hasn’t?) in the past, be willing to accept responsibility for where you are, forgive yourself and then move on. Bankruptcy is not all about failure. It is about knowing your limits and understanding that sometimes in life, you may have to make some difficult decisions to create the change that you need to turn your life around. I tell my clients that it’s like a needed surgery- it will hurt at first but once healing begins, you’d wish you had done it sooner.
When appropriate, Bankruptcy may be just what you need to get your life back so that you can focus on the more important things in life. I have seen countless cases where Bankruptcy relief helped people save their businesses, their homes, their property and even their marriages. Ray Bulaon is a bankruptcy attorney in Valencia who has successfully helped more than 5,000 clients in getting out of debt. For a free consultation, call 866-477-7772 or 661-775-4880. Due to current COVID restrictions, consultations are available by phone or video.