People who file for bankruptcy all believe in playing fair and paying their bills when life somehow got in the way and life became unmanageable. I know because they tell me. Many clients believe that filing bankruptcy is somehow irresponsible; or that their not keeping their promises or obligations. I get it.
After all, YOU decided to apply for that credit card. YOU spent all that money. YOU made all those decisions about how to handle that disappearing budget and got yourself here. Or did you? What if I told you that your current situation is Not All Your Fault. Most people considering filing for bankruptcy have encountered events such as an accident, job loss, family emergency, or some other life event completely beyond their control that helped them get into financial trouble. Many of my clients turn to credit cards when emergencies happen and they saw that as their only way to handle these emergencies. We all do the best we can. Now, let’s look at it from the creditors perspective.
While you’re struggling to hang on, and pay your bills and thinking about whether you should file for bankruptcy. Would you believe me if I told you the creditors are actually hoping you can’t and won’t pay them? It seems counter intuitive, I know. Here’s the key:
The longer you take to pay your debts, the more INTEREST they collect!
Your creditors want you to go on forever this way. They will get as much from you as they possibly can. This is why you see so many adds about improving, keeping and maintaining your credit score. Your creditors don’t play fair. They play on your vulnerability, guilt, shame and the stigma that goes with bankruptcy because THEY SOLD IT TO YOU. If you actually read the credit card agreement and understood the Usury laws, then you might flock to bankruptcy rather than avoid it. In fact, bankruptcy might be the best thing you’ve ever done! Get educated about your situation and consult with your local bankruptcy lawyer today. Click here to find an attorney in your area.
