Five Reasons to Consider Filing Bankruptcy -

Sometimes people wonder if they should file for bankruptcy or otherwise seek out legal help to deal with their creditors. Over the last 16 years, I worked with hundreds of people and families when they were in financial trouble. Here are five reasons to consider filing bankruptcy.

1) You stop all of the collection efforts. No more late charges. No more letters. No more threats. No more phone calls.

2) You can finally start saving. Add up all of the minimum amounts that you pay on your credit cards. Its usually a lot of money each month. Imagine those funds going into a 401k. Or your child's college fund. Or your rainy day savings account. It really is that easy.

3) You can start over financially. Know that feeling when you clean out your closets, or organize your junk drawer or drop off those bags at goodwill? You feel lighter, and cleaner and you have less on your plate. It's the same thing with finally taking control of your finances. You aren't being pulled in every direction. You are not having to rob Peter to pay Paul. You do not have to avoid people, or phone calls or mail any longer. You can start over with a new budget that won't include all of your old debt.

4) You will have better personal relationships. Imagine that your conversations with your spouse or your kids will not have to always be about money. Who you can pay, when you can finally afford the item. You will not always have to be finding money to pay old medical debt or interest on your credit cards.

5) You can focus on the future. When you are mired down in debt, you are constantly looking over your shoulder. You are worried if the car breaks down and how you would be able to afford to fix it. You are worried about holding onto the job you have now for dear life because to imagine something else would be scary. When you have financial freedom, you can think about the future. You can think about going back to school, or enjoying hobbies or activities that cost money because you will not have a large portion of you current paycheck going toward old debt.

If you think bankruptcy might be an answer for you, call me for a free consultation.