Is Bankruptcy The Right Choice For You?

Are you struggling with the choice to file bankruptcy?

However you got into debt, you may be struggling with the question, “Is bankruptcy right for me?”

Most of the clients I meet in my Asheville bankruptcy law firm came to the realization that they were trapped with the amount of debt they had and needed help getting relief. They couldn’t get out of debt by skipping the morning coffee line.  They couldn’t get out of debt from debt snowballsDebt avalanches didn’t work either. You name it, they tried it. But nearly all of my clients say the same thing, “I wish I would have filed bankruptcy sooner.”

Life Happens

Job change, illness, divorce… or simply, “life happens”. Whatever the reason that caused your financial distress, if you are going without basic necessities, an emergency fund, or health insurance, then it is time to consider filing bankruptcy. Filing for bankruptcy relief can have an immediate positive impact on your quality of life. Creditors stop calling, lawsuits stop, foreclosures and repossessions are halted. You can focus on taking care of yourself and your family instead of taking care of your creditors. Often when clients come to me, they have sacrificed the basic necessities so that they can pay their creditors. But after bankruptcy, they have money for healthy food, car repairs, and clothes that aren’t from a thrift store.

Bankruptcy Helps You, Not Punishes You

And guess what?  Bankruptcy is really not that horrible. Talk to someone that has actually filed bankruptcy instead of listening to the scare tactics. You will probably keep everything you own. It’s also not uncommon to see credit scores rise dramatically after bankruptcy with just a little bit of time.  You can still borrow money, including for a car or a home.  After your bankruptcy, you will have wiped out nearly all of your debts.  Since you won’t be eligible for a a discharge in another bankruptcy right away, your are a better credit risk coming out of bankruptcy than before you went in.

The Sooner You File, The Sooner You Recover

The longer you wait to file bankruptcy, typically the worse off you will be.  You might drain your retirement that would would otherwise keep in bankruptcy.  You might waste years in a debt settlement program.  This will only leave you worse off once you finally file bankruptcy.  File bankruptcy first and you will recover sooner with more of your assets left over.  Find out if it is the right choice for you by calling a bankruptcy attorney in Asheville, NC at 828-412-8700.