Should I File a Bankruptcy Proceeding?
The attorneys at The Drazin Law Center have represented clients from literally all walks of life. Our clients include doctors, lawyers, school teachers, government employees, police officers, firemen, military Officers, factory workers, salespeople, service industry employees, and even (ironically) collection agents. Many of our clients are referred to us by other lawyers and clients because, from their past experiences with us, they are assured that the individuals sent to us will be treated with dignity, compassion and professionalism.
The Drazin Law Center believes strongly in the Bankruptcy System. In our opinion, it is not true that Bankruptcy hurts the economy. We believe the opposite to be true. People making minimum payments on their credit cards do nothing but forward (usually overly-high) interest payments to the hands of the credit card companies and their shareholders. We feel this system makes the rich even wealthier to the detriment of the majority of the persons within our country. On the other hand, we find the Bankruptcy filer, after the completion of their action, usually has the resources available to purchase items that truly drive economic growth, such as homes, automobiles, clothing, furniture, etc.
In some cases, the need to file bankruptcy is caused directly or indirectly by a life altering event, such as job loss, illness or divorce. In other cases, there may indeed be some element of financial mismanagement. In our opinion, the accumulation of credit card debt is very much the fault of the credit card companies that have led our Nation to believe that people are financially solvent if they are able to make minimum payments on credit cards. The reality is that a person who can only afford minimum payments is probably no more than just a few paychecks away from Bankruptcy.
The statistics we have seen reveal that for every person who files Bankruptcy, there are probably seven others who have significant financial problems. If this figure is accurate, it means that at any given point, there are as many as 10,000,000 people in the United States who are in financial trouble.
Once debt is created, it either has to be paid or eliminated. Debt cannot simply be ignored. You cannot allow feelings of pride, ideology or morality to stop you from making practical decisions in your life. It is completely normal for you to have regret, sadness and embarrassment about decisions (financial or otherwise) you have made in the past. It is much more important, however, that you learn from your mistakes. You are legally and morally entitled to be relieved of your debt when you cannot afford to pay it. This is the reason the Bankruptcy laws exist and why the filing of a Bankruptcy proceeding is called "filing for protection."
Contact us at The Drazin Law Center, for your Free Initial Consultation, so that we may assist you in using the Federal laws to help you move forward in your life by obtaining a "fresh start."