' Life After Bankruptcy Discharge - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Why Your Main Goal Should Not Be Avoiding Bankruptcy

Ask a group of people what’s the worst thing that can happen financially and there’s a good chance at least a few of them will answer “filing for bankruptcy.” This is the sort of thinking that has given bankruptcy its stigma over the years and the reason why so many people do everything they can to avoid filing.

Unfortunately, the myth that bankruptcy is the absolute worst case scenario has cost a lot of people money, time, and peace of mind. Exhausting every alternative you have before finally giving in and filing for bankruptcy is usually a big mistake, and most people who end up filing admit they wish they’d done it sooner.

Obviously, if you have the money to pay your debts you should do so. But this does not mean depleting all of your savings and investments to pay off debt. As a matter of fact, draining all of your savings to avoid bankruptcy is more often than not a mistake.

It’s also important that you take action toward bankruptcy before you are penniless because filing is an expense. If you wait until you are down to your absolute last dime, bankruptcy might not even be an option for you anymore.

For more information on the cost of bankruptcy, check this out.

The key to knowing when to file and being able to accept that bankruptcy should not be viewed as your last resort is to dismiss all of the myths related to bankruptcy. There is no reason to be ashamed of filing and there’s no reason to think that one day, even if you file, you won’t get your financial life back on track. Bankruptcy isn’t the end of anything other than your financial stress; in fact, it’s the new financial beginning you’ve been hoping for.

Why Should You File for Bankruptcy Sooner Rather Than Later?

  • Bankruptcy eliminates your legal obligation to pay many of your debts
  • Bankruptcy can enable you to adjust your mortgage and other large debts
  • Bankruptcy extends the time you have to repay debts that are not discharged

Filing for bankruptcy allows you to protect your 401k and other retirement savings. It also allows you to keep some of your savings, as well as your vehicle and your home. Your life will change after bankruptcy and you’ll give up control of your finances to your trustee, but with guidance from an experienced attorney, bankruptcy will actually help you protect things you risk losing if you don’t file.

If you are facing financial difficulties, it’s easy to understand why you’re scared. People lose their jobs, suffer expensive health problems, and encounter other unexpected life circumstances that leave them in dire situations financially. The good news is there are tools available to help deal with all of these situations. The key is to put your fears aside and take action that is really going to make a difference in the long run.

If you’re wondering if bankruptcy is right for you, or you’ve reached a fork in your financial road and using assets to pay off debt seems like the most obvious option, give us a call. We can help you make the best choice possible for your situation and get you on the path to a brighter financial future. Contact us for more information at the Law Offices of Robert M. Geller at 813.254.5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

When Does Bankruptcy’s Automatic Stay Go Into Effect?

Filing for bankruptcy can be a daunting experience, but it also provides vital protection for those in financial distress. One...
Read More

Should I Close My Bank Account Before Filing for Bankruptcy?

Filing for bankruptcy is a significant decision that requires careful planning. One common question people have during this process is...
Read More

Can Filing Bankruptcy Stop Repossession?

Facing repossession of your car or other valuable assets can be incredibly stressful. When you’re struggling to make ends meet,...
Read More

Are Bankruptcies Public Record?

When individuals or businesses find themselves in financial distress, they may consider bankruptcy as a way to manage or discharge...
Read More

How Can I Protect My Assets During Bankruptcy?

Filing for bankruptcy can be a challenging decision. Many people worry about losing their assets during the process. In Florida,...
Read More

Will My Landlord Know If I Filed for Bankruptcy?

Filing for bankruptcy can be a daunting decision. If you’re a tenant, you may worry about how this decision affects...
Read More

Should I File Bankruptcy without a Lawyer?

Filing for bankruptcy can be a daunting process. Many people wonder if they should tackle it alone or hire a...
Read More

How Does Bankruptcy Affect My Credit Score?

Filing for bankruptcy is a significant decision. It can have a lasting impact on your financial future, especially your credit...
Read More

Can You File Bankruptcy on a Title Loan?

If you're struggling with debt and have a title loan, you may wonder if bankruptcy can help you escape that...
Read More

Will Bankruptcy Affect My Security Clearance?

When you're facing financial difficulties, the prospect of bankruptcy can be daunting. This concern is amplified if you hold or...
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

813.536.4468

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 328-6667
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) 274-9155

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 492-2663

Map And Directions