Previously, this blog discussed how many Americans are struggling to pay off their credit card bills. This, when taken together with other debts, including medical expenses, income hardships from a lost job, reduced hours or decreased pay, can leave an individual in a dire financial situation. He or she may not know what to do to protect themselves and their family, and the pressure can rise when unrelenting creditors continue to hound him or her.
At the Frankfort Law Group, we understand that there is a sense of pride that comes with being able to dig one's self out of a financial hole. Yet, as we often advise our clients, going through this process can create unnecessary stress and may, depending on the circumstances, create more severe long-term financial problems than filing for bankruptcy. For this reason, we discuss the bankruptcy options with our clients so that they fully understand the routes they may choose to follow in an attempt to claim the fresh financial start they deserve.
Bankruptcy isn't right for everyone, though. Even those who choose to pursue it can find themselves inundated with a multitude of decisions that can seem confusing. This is why it is often best to discuss these matters with a legal professional who understands the differences in approaches and can advise according to the specific facts at hand. The attorneys at our law firm can discuss the differences between various debt relief options, including Chapter 7 and Chapter 13 bankruptcy, helping individuals and businesses make decisions that are in their best financial interests.
Of course, merely choosing a debt relief process is just the start. Those who want to successfully complete their bankruptcy plan need to ensure that they are abiding by the plan and the law, as failing to do so could result in serious consequences. Therefore, those who are thinking about filing for bankruptcy, as well as those who are amidst the process and facing problems, may want to consider discussing the matter with a qualified legal professional.