Bankruptcy advice: The two secrets no one will tell you about debt relief

When you think of people who seek help from bankruptcy, what do you think?

Until we’ve been through it, we tend to think that people who file for bankruptcy spent too much money, made bad financial choices, and perhaps should have known better. We think we’re somehow different than they are.

SECRET #1: Most Americans are a breath away from needing bankruptcy help.

We see our neighbors who all seem to be doing fine, with their nice houses and cars, their kids in sports and their spring break vacations. So when we start to feel the financial pressure of too much debt, we think we’re alone in our situation.

But at the end of last year, consumer debt stood at $2.5 trillion in the U.S. — about $8,100 for every man, woman and child in the country excluding mortgage debt.

With that debt load, it doesn’t take much to get into deep financial quicksand fast. A couple of missed paychecks, an unforeseen home or car repair, or an exorbitant medical bill and it becomes much harder to balance the checkbook at the end of each month.

If you’re struggling to meet ends meet, are facing collections actions or watching your credit rating decline, you may be reluctant to seek bankruptcy advice. After all, you don’t want to think of yourself as one of those free spenders who didn’t manage their finances. The secret is that you’re not — you’re just like everyone else on your block or in your building. It just so happens that you hit a rough patch and are now feeling the pain.

What we don’t realize is that many of our successful, smart peers and neighbors are in the same boat as we are, working very, very hard to have the life that we want for our families and walking the edge of financial disaster.

So when we find ourselves losing sleep at night over our mounting bills or avoiding reading the mail, we don’t ask for the help or advice that we need.

We think, “I’m not them. I don’t need bankruptcy help. Bankruptcy is for people who have made bad decisions.”

The truth is that bankruptcy was developed to help you and me — people who work, pay their bills, keep to a budget, clip coupons at the grocery store, and somehow still found themselves unable to keep up.

SECRET #2: Asking for bankruptcy advice doesn’t make you a bad person.

The second misconception that keeps us from seeking help and advice on bankruptcy is the idea that filing for bankruptcy is some financial scarlet letter — a mark forever on your record that reminds you and others of your mistakes.

What most of us don’t realize is how common bankruptcy has become, and how discreet process truly is. Because your neighbors have the same worries as you, they’re not talking about their finances at dinner parties. You’ll never know which of your friends and colleagues have filed unless you do a search of public records. And while searching for our old high school buddies on Facebook has become popular, it’s not common to check their financial history.

In the right circumstances, bankruptcy can mean a fresh start, a foundation for rebuilding, and a load off of your mind. You can sleep better at night and ensure that your financial future is brighter. You can take the lessons that you’ve learned and move forward, instead of constantly watching the creditors at your heels.

THE TRUTH: The only thing that bankruptcy takes away from you is your debt.

Everyone who comes to us for bankruptcy advice tells the same story.

“I never thought I’d be here.”

And the truth is that no one plans to need bankruptcy help.

If you never thought you’d be here, you’re not alone. If you take charge of your financial future, get the bankruptcy advice that you need, and choose to file for bankruptcy, you’re not alone either. You’re in the good company of your friends, family and neighbors who didn’t think they’d be making that decision either.

Don’t make the mistake of waiting too long to get bankruptcy advice. Seeking bankruptcy help from a reputable Ohio bankruptcy attorney today can save you thousands of dollars and hundreds of headaches and grey hairs. Contact us for your free, confidential consultation today.