The holidays can be filled with excitement, gifts, and gatherings! But for some, they are a reminder of a difficult time, where funds are low and debts are high.  You may feel that you are out of options, or your situation is hopeless. Bankruptcy is one option to consider, but it is not the only option.

Before you can file for bankruptcy, you will need to go through credit counseling with a government-approved agency. This is a necessary step, but it also may help you to resolve your debts without filing.  Credit counseling will give you clarification on whether or not you need to move forward with the bankruptcy process.

If you are on the fence about whether or not to begin the process, here are a few things to consider:

• Are you overwhelmed?  If calls and letters and legal proceedings, juggling various minimum payments and trying to keep utilities on has become a full time job, it’s time to speak with an attorney about bankruptcy.
• Is your financial situation likely to improve in the near future?  If you are laid off for the season, will you be returning to work soon?  Are you expecting a raise or will your expenses soon be reduced?  If not, then bankruptcy might be an option.
• Are you unable to pay for necessities? If you are unable to pay for basic utilities, housing, and food, or if you are using a credit card for those expenses, then a bankruptcy might help you.
• Is fear the only thing stopping you? Bankruptcy is a scary process. There is fear of judgment from others, damage to your credit report, and a long, expensive legal process.  We understand and we are here to minimize the pain.  The damage to your credit report is not irreparable and may be less severe than having numerous past due balances.  A bankruptcy is not the end of your reputation, your life, or your credit.

We hope you never need to consider filing for bankruptcy.  But if the unfortunate happens, and you find yourself needing legal advice, we hope you will call our offices for help.  We are compassionate and reasonable, here for you in your time of need.