Do You Feel Guilty for Needing Bankruptcy Protection?

by DeLadurantey Law Office, LLC on August 20, 2014

Many of our clients express that although they are devastated financially, they only want to file a Chapter 7 or Chapter 13 bankruptcy as a “last resort.” It is normal to feel some guilt or apprehension about filing a bankruptcy, but that doesn’t mean it should stop you from obtaining the debt relief you need. This is especially true if your debt is taking a toll on your health, your marriage, or your daily life. Isn’t a small shot to your pride worth protecting the things that really matter in life?

One of the best ways to look at filing for bankruptcy is that we all deserve a “fresh start.” Whether your financial struggles were caused by your own mistakes or circumstances completely out of your control, everyone deserves a second chance. That is what bankruptcy is all about. There is a big difference between intentionally taking advantage of the system and taking advantage of a lifeboat when you are sinking.

What will your kids and/or others think? Most people will never know that you filed for bankruptcy, and when it comes to explaining it to your children, it is important to let them know that you are taking the first step in getting control of your financial life. You believe in repaying what is owed, but you also believe in obtaining help when you can no longer handle things on your own. This is a valuable lesson for anyone.

It should also be noted that bankruptcy is not a “cure-all” for the rest of your financial life. A Chapter 7 or Chapter 13 allows you to eliminate the majority (if not all of your debt), but you still have to work hard going forward. You must commit to rebuilding your credit score. This means you must learn from your past mistakes and make better decisions in the future.

If you know deep in your heart that bankruptcy could help you, but you are apprehensive about filing a case, contact us for a consultation. We can review your individual finances and help you understand all of your debt relief options. Educating yourself about your situation and what tools are available to you can only work in your favor. Let us help!

If you would like a down-to-earth approach and a lawyer who will listen carefully to all your questions and concern, call DeLadurantey Law Office, LLC,at (414) 377-0518. We serve clients primarily in the areas of student loan law, Chapter 7 and Chapter 13 bankruptcies, debt negotiations and defending foreclosure actions. If you live in the area of Milwaukee, Wisconsin, call us for the debt relief assistance you need. Visit our web site and like us on Facebook.

 

 

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