Bankruptcy Myth 8: You Can Handle This Yourself

You may think that since you got yourself into this financial mess, you can get yourself back out. It’s great to take responsibility for your situation, but when it comes to a bankruptcy, you will likely cause more problems than you need.

If this is how you’re feeling, you’re making your creditors very happy.  You should know that working with creditors is much harder than you think. Those calls you receive every day are just the tip of the iceberg when it comes to how unpleasant it can be to work with them.

Most of our clients have tried to work out settlement offers with their creditors. Worse yet, they have done so repeatedly with little success. Think about it, your creditors want you to stay in debt to them! They want to collect interest. They want fees to pile up. And as we mentioned in Myth #4, your creditors are NOT your friends.

In fact, nobody bothers to mention the tax ramifications of settling your debts. Whatever debt your creditors do forgive can actually be considered taxable income to you! If you’re struggling to pay your taxes now, settling with your creditors can actually make that problem worse.

Sometimes being “responsible” means asking someone for help.

Ready to Get Some Help?

Call us today to set up a free consultation. Our office can show you what options will work best for your situation. We believe in relationships that are based on trust. So, before we work together, we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law.