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When Bad Things Happen to Good People ...

Bankruptcy May Be Your Option

Are you second-guessing yourself deeper into a financial hole?

Business and military leaders have coined a phrase to describe what happens when people spend too much time trying to figure out why something is happening instead of taking concrete steps to do something about it. They call it the "paralysis of analysis." Many times this self-induced inaction has the effect of making things worse because even an imperfect course of action taken in a timely manner could be better than taking too long to come up with the perfect plan.

In the realm of personal finance, one mistake that people can make is to delay taking specific actions to deal with money problems. Too often, the end result of putting off hard reckonings when it comes to debt obligations is to make problematic debts become unmanageable ones and to force frustrated creditors to give up on the idea of working with you by calling in the debt collectors instead.

Simply put, procrastination seldom makes more palatable possibilities available. Instead, it tends to put you into a desperate situation with few or no options.

Recognizing the need for outside assistance when it comes to debt problems is not a sign of weakness. Denial is easy, but it takes courage to acknowledge a financial problem that has become too big to manage on your own and to recognize when it is time to seek appropriate help.

Confronting debt problems early with the assistance of a debt-relief attorney can make the difference between coming up with proactive solutions such as negotiated debt restructuring or, if bankruptcy becomes necessary, deciding between a payment plan-based Chapter 13 solution and a Chapter 7 liquidation.

At the Colpitts Law Firm, we help our clients with more than just bankruptcy solutions. We can help to identify ways to manage debts short of bankruptcy and to help implement those solutions. But, if bankruptcy does become necessary, our attorney Greggory Colpitts is certified through the American Board of Certification as a consumer bankruptcy attorney, so you can feel confident in our firm’s ability to protect your legal rights and to secure the best available outcome.

Learn more about how we can help you to solve debt problems by going to our website, which, in addition to helpful information, also has ways to contact us by phone or email for a free initial consultation.

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