The Fear of Filing Bankruptcy



The Fear of Filing Bankruptcy

The Fear of Filing Bankruptcy

Some people hesitate to contact a bankruptcy attorney out of fear. They may have heard thing such as their credit will be forever ruined, they won’t be able to get a mortgage, and more that gives them great fear. What they often find, however, is that bankruptcy is not as bad as they think and in fact can actually solve many of their problems. A bankruptcy attorney can help explain the benefits and drawbacks to filing based on your individual circumstances.

To be certain, filing bankruptcy is a big decision that should not be entered into lightly. And it is not a magic bullet that solves all of your problems magically. But when a person is deep in debt, that situation is often untenable. For many people, bankruptcy represents the best of a bad situation, allowing them to either discharge debt through Chapter 7 or reorganize debt through Chapter 13.

While there are certainly disadvantages to filing, many people find the myths worse than the actual truth. The truth is that bankruptcy will have a negative impact on your credit score, but it eventually will disappear. The truth is you will eventually be able to obtain a mortgage and other credit, but it often comes at a higher interest rate. A lawyer can fully explain the process of filing and help you get over your fear if bankruptcy is ultimately the right decision for you and your family.

If you have questions about bankruptcy or just need help with ideas on how to manage your debt, contact Westbrook Law Group right away. We will sit down and examine your situation and help you find the right solution for your debt problems. We understand just how stressful it can be to suffer from serious debt issues and we work compassionately to help you find answers. For a free consultation regarding your debt problems, contact Westbrook Law Group today.

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