I am a proponent of erring on the side of filing bankruptcy. Why? Because hitting the reset button is good for you mentally and physically. Who among us wants to live with overwhelming debt that results in stress and worry that sometimes doesn’t end for years? Not me. I have high anxiety. I don’t necessarily mind problems, but I cannot have no solutions. I also don’t want solutions that delay getting relief. For, me delayed relief from a problem, is no relief.
Now, with that said, there are some things you need to know about declaring bankruptcy. The first thing is that the previous statement sounds more ominous than it really is. “Declaring bankruptcy” sounds like such a definitive and final statement about your condition. It is not. Think of declaring bankruptcy this way- it’s like raising your hand in class and answering a question- only this time you are raising your hand and saying this debt is overwhelming and I want to hit the reset button so I can move on with my life.
Second, while bankruptcy is on your credit report for 10 years, getting rid of debt is always a great way to improve your credit profile. Why? Because having no debt is better than having debt- period! Don’t believe me? Why do you think lenders advertise to people who file bankruptcy? You have no debt!
Third, did you know we have never had a single client regret “declaring bankruptcy”? It’s true but they do have one regret. They regret waiting so long before they filed bankruptcy. In others words, the anxiety of thinking about declaring bankruptcy is far worse than actually declaring bankruptcy.
When the time is right, or when you are ready, reach out to the law firm voted BEST CUSTOMER SERVICE EXPERIENCE of any bankruptcy law firm in Minnesota at www.kainscott.com.