It may sound strange, but bankruptcy may actually be the first step towards a lasting path for success. Some people view bankruptcy as a failure. They think it is a sign of failure that they will never recover from. But the reality is that many successful people have used bankruptcy to get their finances in order. Far from being a failure, bankruptcy was simply the best option for dealing with serious debt problems. In fact, one of the leading contenders for the Republican nomination for president has used bankruptcy – Donald Trump.
While Mr. Trump has never filed for personal bankruptcies, his companies have used Chapter 11 on four separate occasions to restructure or reduce its debt. As a successful businessman, he understands that there are times when debt becomes so onerous that trying to pay it back is a fool’s errand. Instead of throwing money at debt that will never be repaid, he chose to use bankruptcy to get his companies out from under the weight of crushing debt.
Consumers should view Chapter 7 bankruptcy and Chapter 13 bankruptcy in the same way. Far from being a failure, choosing to file is simply a recognition that this is the best option available. While everyone wants to pay back what they owe, there are times when this is simply not possible.
A bankruptcy attorney can sit down and review your situation and carefully explain your options. Whether it is a discharge of debts in Chapter 7 or a reorganization of debt in Chapter 13, you can make the best decision for you and your family. Once your debt problems have been dealt with, you can start on the path to a successful future free of crushing debt burdens.
At Westbrook Law Group, we can carefully explain your options and help you make the right choice for you and your family. We understand how difficult it can be to struggle with debt, so we carefully and thoroughly explain the options available to our clients. For a free consultation in Troy or St. Charles, contact Westbrook Law Group right away.