' Trying to Avoid Bankruptcy? - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Trying to Avoid Bankruptcy? Maybe You Need a Different Approach

Ask the average person whether or not they want to file for bankruptcy and chances are the response will be they’d rather avoid it. Some people even consider it the worst thing that can happen to them.

Unfortunately, this attitude toward bankruptcy not only makes people who do choose to file uncomfortable, it means a lot of people postpone filing in order to save their pride. And in nearly every case, the preservation of pride ends up costing their wallet a lot more than it should.

If you’ve visited a bankruptcy attorney for a consultation only to realize it’s something you should’ve done months ago, you aren’t alone. Most people wish they’d acted sooner and if you are in the process of drumming up the courage to schedule a consultation, there is no time like the present!

Here’s why:

The key to a successful bankruptcy is to not deplete all of your assets prior to filing.

For starters, bankruptcy is not free. You’ll need some money (maybe even a few thousand dollars) to file bankruptcy. There is such a thing as being too poor to file for bankruptcy and you don’t want to end up in this position.

To learn more about the costs associated with bankruptcy, check out this post from Nolo.com.

Entering bankruptcy with some assets does not mean you are going to lose everything you have. A bankruptcy attorney can help you protect your assets, so there is no sense in waiting until your financial accounts are on empty before filing.

Avoiding bankruptcy can make a bad situation worse by:

  • Costing you your 401k
  • Costing you your personal savings account
  • Causing you to lose your home or your car
  • Doing nothing to eliminate debt – only keeps you barely afloat at best

Why Throw Money at a Problem that Will Never Get Solved?

Likewise, you don’t want to throw money away. Chances are you’ll be released from your obligation to pay some of the debts you’re trying to keep up with now, so why throw money at a debt you’re not going to owe once you file or after your bankruptcy is complete? This is especially true if you’re thinking about using retirement or other savings to pay the debts you owe.

Though every case is different, it’s possible for a bankruptcy attorney to protect your retirement savings, keep your personal savings, protect your home and other assets, and make it possible to start fresh and begin rebuilding your credit. Not to mention the sooner you file the more likely it is you’ll be able to afford the costs associated with bankruptcy.

Using Bankruptcy as a Tool to a Brighter Financial Future

Nobody wants to file for bankruptcy, but far more people need to realize it’s a tool that can help them repair their damaged financial situation and turn a desperate situation into one that is manageable.

For more information or to speak to someone about why now might be the best time for you to begin the bankruptcy process, contact the Law Offices of Robert M. Geller at 813.254.5696 to schedule a free consultation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Is Alimony Dischargeable in Bankruptcy?

One of the biggest concerns that people have when considering bankruptcy is the effect on their financial obligations, including spousal...
Read More

Should You File Bankruptcy Before or After Divorce?

Marriage and finances can be a tricky combination. Timing is also an issue when it comes to filing for bankruptcy....
Read More

What’s Better Bankruptcy or Debt Settlement?

The idea of being trapped in debt can be overwhelming and all-consuming. Financial struggles can happen to anyone through no...
Read More

Can I Keep One Credit Card During Bankruptcy?

The decision to file for bankruptcy is never easy. People considering this option often struggle with financial stress, debts, and...
Read More

How Does Inflation Affect Credit Card Debt?

Credit card debt can be overwhelming. This is especially true during times of inflation. What is Inflation? Inflation is a...
Read More

Can Personal Bankruptcy Affect My Business?

If you’re a business owner considering filing for bankruptcy, it’s important to understand how this decision impacts your business. From...
Read More

Can You File Bankruptcy with Money in the Bank?

Bankruptcy is a serious decision and has major consequences on your credit as well as your overall financial situation. If...
Read More

Will Declaring Bankruptcy Affect My Spouse?

Are you considering declaring bankruptcy? Are you married? If so, you may be wondering how it will affect your spouse....
Read More

Will Filing Bankruptcy Stop Foreclosure?

Many people facing foreclosure wonder if filing for bankruptcy will help them avoid the loss of their homes. While filing...
Read More

What Causes Someone to File Bankruptcy?

People file for bankruptcy for a variety of reasons. It’s an important decision to make and one that should not...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions