Bankruptcy is a legal method that allows an individual to declare their in ability to pay their debt.  A person usually opts to declare bankruptcy when all other debt relief options have not worked.  Bankruptcy is considered to be the last resort for an individual who has no other possibilities left to pay off debts that are owed.

Bankruptcy is not a form of punishment for not being able to pay your bills.  It can be a time where individuals feel embarrassed as they are berated by “predator creditors” that call daily and demand payment.  Let’s be honest, if individuals had the money to cover their bills they would but if you don’t have it you can’t just make it appear because it is due.

What people imagine bankruptcy to be is actually quite different than what it actually is.  Most people that find they seek bankruptcy advice from an attorney have tried everything before they have gotten to this point.  Many times individuals are seeking bankruptcy relief because of an unexpected job loss or something else beyond their control; life’s circumstances over personal behavior are to blame for a high percentage of all bankruptcy’s that are filed.

The benefit of filing bankruptcy is that it allows you a fresh start.  The best way to clear the field is to work with a bankruptcy attorney and the best way to start again is to meet with a financial advisor.  We do not treat ourselves when we are sick so don’t treat your damaged or broken finances alone either.

Although bankruptcy allows individuals to have a fresh start and begin again financially it is easier said than done.  Changes in bankruptcy laws have made it harder and more complicated than ever to file.  It is incredibly important to work with an attorney to ensure that paperwork is filed correctly and that nothing is missed.  Consult with a bankruptcy attorney, a professional will ensure that that the ins and outs of bankruptcy rules are followed.

Filing for bankruptcy is a onetime life event.  It allows you to clean out your financial closet however it is crucial that you do not go it alone.  New bankruptcy laws were enacted in 2005 that made it much more complicated for debtors to file bankruptcy.  With careful planning and a good lawyer it can be done.  A good attorney and careful planning will get you the results that you desire.  A good bankruptcy lawyer knows the ins and outs of the new laws and will get you the results that you deserve.  When looking for a bankruptcy attorney and before you hire one be sure that they have the capacity and expertise to get you what you need.

Bohikian Law Group specializes in chapter 7 and chapter 13 bankruptcies in Michigan. Contact us today to find a bankruptcy attorney that will help you in debt relief at today.

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