Why Not?

Chapter 13 Can Help.

Bankruptcy is an ugly word to most people. Generally, most will do everything in the power to avoid it. They feel ashamed, embarrassed and maybe even consider themselves a loser or a failure. They may even be too embarrassed to talk with family or friends about their financial issues. We were taught at an early age to pay our bills on time and to maintain a good credit score. But sometimes, other expenses take priority over others. Food, clothing and shelter takes precedent over credit cards, medical bills, loans, etc. It doesn’t take long before you are behind on your bills and it doesn’t take much longer after that before these creditors are suing you.

Luckily, we live in the United States of America, and our bankruptcy laws, more than in other nations, favors you over your creditors. Our Bankruptcy laws are very liberal compared to most countries. Why? Because bankruptcy allows you to take financial risks in life. This liberal stance encourages entrepreneurship, which means more businesses and job opportunities for the American people.

The fear of failure makes dreams impossible.

Everyone makes mistakes in life. But it’s how we respond, learn and grow from our mistakes/failures that make us who we are. Here’s one of my favorite quotes by Theodore Roosevelt: “Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, because they live in the gray twilight that knows neither victory nor defeat.” Basically, if you don’t try, you’ll never succeed. And failure comes to some of the most successful people. Every time a person buys a car or a house on credit, obtains a credit card or a business loan, they are taking a risk. They are trying to better themselves in life. They are taking a gamble on themselves. Unfortunately, some of these people will fail and will not be able to repay their loans. These individuals will face garnishments, foreclosures, repossessions and other creditor actions. That’s why there’s bankruptcy and filing for bankruptcy may be their best move.

Bankruptcy is not Failure.

Bankruptcy is a tool to fix BOTH your present and future financial situation. Life is too short to be trapped by creditors. To be hounded everyday by calls and risk having your bank account or wages garnished. Bankruptcy allows people to get out of debt and to start taking risks and gambling on themselves again. Whether that’s gambling on starting a business, investing in stocks, buying another car or house or whatever, bankruptcy is a great tool to getting back on your feet again. If you are in a financial bind and can’t seem to put a dent in your debt load, take a look at your Chapter 7 or Chapter 13 bankruptcy options. Make tackling your financial problems your New Year’s Resolution!

If you have questions, please call me 678-401-6836. I would be glad to talk with you about bankruptcy and how it can help you financially.