But I feel bad if I file for bankruptcy…

Many of us do not give much credit to our representatives in the Federal government, but perhaps we should thank them for creating and keeping a method for people who are financially down on their luck to get relief from aggressive creditors. Although bankruptcy has traditionally been socially taboo, and only mentioned between lawyers and clients, it remains a right you and every U.S. citizen enjoys to reclaim financial independence.

For some of the clients who enter our offices, they seem ashamed at the specter of debt discharge. Their parental figures or loved ones may frown upon the thought of filing, but for those who discourage asserting your right, I would challenge them with the following; would you bemoan your loved one for declaring his or her right to free speech? Or, his or her right to a fair trial? These rights, like many others are established by the very same people who give us our right to be forgiven of consumer debt.

If you are battling your conscience, well, first off, congratulations, you have a conscience! But in reality, if your inner voice is making you feel guilty because you are not upholding your end of your obligations, I would try to challenge that false belief. Remember, your creditors knew you had the option to file bankruptcy. They are players in the same market as you. When they made credit available, they were working under the same rules as you are. An American’s right to be free of consumer debt is a risk they assumed when they make credit available to each and every one of us.

Our lawmakers realized that in a capital driven economic market, unforeseen happenstances occur. Who could have foreseen the radical downturn in the real estate market from 2006 to present day? Who could have predicted the skyrocketing costs of medical care? The answer – no one, but the people we entrust to pass laws kind-of-did. See, the current Bankruptcy Code was not enacted so that you personally could throw care to the wind, but it was established for times just such as these; periods of unstable economic turbulence wherein we as consumers have the right to safety. The right to look towards a brighter future. If you are thinking of bankruptcy, remember, you are one of millions who have either filed, or are thinking of filing and you are at this point because it is your right.

Contact us today to schedule your free consultation by calling (480) 888-7111 or submitting a web request here.

By: Scott A. Mac Leod