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How Filing Bankruptcy Can Help You

17th May 2011
By Stewart Wrighter in Bankruptcy Law
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If you are struggling financially, it might seem like there is no end in sight to your trouble. With a never-ending barrage of bills, late notices and harassing calls from creditors, you might feel as if your world is caving in. A lot of people choose to hide from their problems and ignore the terrible mess that has been created. If this sounds like a good plan, think again. Doing nothing and trying to avoid your financial missteps is eventually going to catch up with you. Instead of ignoring the problem, it is better to tackle it head on, no matter what that means. You might be in for some initial pain, but years from now, you can look back on things with pride, knowing you handled the problem and feeling better about your financial future. Contacting a bankruptcy lawyer or bankruptcy attorney is a step in the right direction. Getting the ball rolling gives you time to plan your next step and with professional guidance, it is likely to be a step in the right direction.

Once you have begun the proceedings to declare you are bankrupt, creditors are no longer going to be calling you. They will either contact your legal representative or sit patiently and let the court decide what they get once the proceedings are finished. Instead of having to fight off harassing phone calls and visits to your home all day and night, you can focus on getting things organized and figuring out your next step. This alleviates a lot of the stress. You might still owe a lot of people a lot of money, but you will be able to think more clearly if you are not being harassed.

Altering the payment process on debts gives you time to make money to pay what is owed. Instead of late fees and other fees piling up, declaring you are bankrupt puts a final stop to growing debt and gives you a clear indication of what you owe. You can focus on finding work and paying the debts down instead of just seeing it pile up.

Working with a professional financial counselor helps you protect certain items during the proceedings. Depending on the laws where you live, certain possessions might be protected from your declaration. If you are inexperienced, you might not know the proper steps to take to keep things protected. Professional and experienced support will guide you in the right direction and help you determine how best to proceed. There is no sense losing valuable items or your home if it is not necessary.

Finally, an official declaration of being bankrupt might help to protect your family and other people invested in your assets. Before you are working with professional assistance, consider everything in your life at risk. You have no idea what creditors have access to. Once you have legal support, you can find out what is protected and help those around you feel more confident. Nobody should suffer because of your financial struggles.


Stewart Wrighter recently spent time researching bankruptcy with the help of aFort Lauderdale bankruptcy lawyer. He hired aMiami bankruptcy attorney to represent his brother.
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