Many people hesitate to seek the advice of an attorney for help with their financial problems. Some people who are in financial distress are overwhelmed by feelings of failure, guilt or shame. People think that discussing their problems with a lawyer would be embarrassing. They avoid contacting a lawyer for help because they fear an unpleasant conversation.
Unfortunately, this is absolutely the wrong approach to dealing with financial problems. People in financial distress should be aware of all of their options, including the option of seeking bankruptcy protection. If a sense of shame prevents a person from seeking out help when they need it, then that sense of shame has done that person no good.
A few people who file for bankruptcy are spendthrifts or careless with their money. But, the vast majority of people who seek bankruptcy protection are decent and honest people who experienced an unfortunate and unexpected turn of events, such as job loss, a decrease in income, unexpected serious illness, accidents or injuries, or a failed business or investment.
The bankruptcy laws exist for a reason. Bankruptcy is part of our social contract and is enshrined in our United States Constitution. The bankruptcy system acts as the ultimate safety net. It provides an avenue for an honest debtor to get a fresh start in life. No one should be so indebted that they are enslaved to their creditors.
The decision to file for bankruptcy protection is a serious one. There can be significant downsides that go along with the many benefits of bankruptcy protection. Bankruptcy should only be done after careful consideration and with assistance of experienced legal counsel.
Do not let shame or guilt prevent you from solving your problems and moving forward with your life. Guilt and shame accomplish nothing for you or anybody else.
It is important to seriously explore bankruptcy as an option for your financial problems. There are many factors to consider before filing a bankruptcy, but a guilty conscience should not be one of them.
There is no shame in seeking bankruptcy protection. The only shame is not seeking help when you need it.
For more information about bankruptcy, feel free to contact Brian T. Hemphill.