During initial bankruptcy consultations, I make a point to discuss the theory of bankruptcy with potential clients so they understand what relief they are getting and at what price. The bankruptcy court provides debt relief, asset protection and a second chance at financial success in exchange for completely and honestly disclosing details of your financial condition. That’s the bankruptcy bargain.
Honesty is the essential ingredient to a successful bankruptcy case.
Many consumers I speak with as an Asheville bankruptcy attorney feel overwhelmed by debt problems. They have been waiting for a long time to figure out a budget solution but seem to repeat the same pattern of minimum payments month after month with no end in sight. Others borrow more money with a personal loan or balance transfer on another credit card to help pay this month’s bills. Still others begin to tap into their retirement savings, waiting for a solution.
The bankruptcy court’s “fresh start” was designed to aid consumers stuck in these very common patterns.
The best bankruptcy cases provide a spark which can help consumers break out of old cycles of just trying to “make ends meet.” Maybe the trouble started when hours were cut at work, or when a marriage failed. Looking back, perhaps a medical condition or bad luck timing the housing market led to the persistent budget problems. Maybe it was poor spending choices.
Whatever the issue, if you are feeling financial stress, it is important to become informed about your best financial options moving forward. If you are ready for a fresh start, I would be pleased to speak with you during a free, initial bankruptcy consultation.
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