Did Thanksgiving Spark a Bankruptcy Conversation in Your Household?

November 22, 2012

Thanksgiving causes millions of American families to join together every year. They talk; they pass the gravy; and in more situations than you might imagine, parents encourage adult children and adult children convince parents to declare bankruptcy.

 

You shouldn’t be afraid of declaring personal bankruptcy. Bankruptcy is often a relatively private, simple, affordable, and productive experience. Although it’s true that your credit will be damaged for a little while, your access to credit may bounce back faster than you might believe.

 

In this economy, it’s understandable that you might need to file personal bankruptcy. Prolonged unemployment is the fate of millions of hardworking, capable Americans. In many states and many professions, years of easy credit made some goods and services – such as homes – appear like they were more in demand than they actually were. After the crash of 2008, demand simply hasn’t come back and, consequently, people who provided certain pre-Recession goods and services are struggling to make the appropriate changes.

 

Finally, personal bankruptcy provides some important personal benefits. The Bankruptcy Code’s automatic stay prevents creditors from contacting you and your family, pestering you for repayment despite the fact that you simply don’t have the money. For many debtors, bankruptcy lets them sleep considerably easier knowing that they are moving toward a meaningful, lasting solution to their financial problems.

 

Is bankruptcy the right answer for you? The attorneys at the Dallas law firm of Fears Nachawati can help you address this important question. For many debtors, bankruptcy isn’t an end, but a beginning to a more balanced and sustainable financial life. Find out how our professionals can help you by talking to us today.

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