Seattle, WA (PRWEB) June 29, 2012
Nobody likes to fail. Bankruptcy has always been synonymous with financial failure and prevents many from seeking the help they need to control their debt. Integrity Law Group, Seattle bankruptcy attorneys, suggests that one of the most important reasons to seek proper representation is to help understand that shame should not be a factor when filing for bankruptcy protection.
For many people, even an initial consultation to see if bankruptcy may be the proper course of action to take in dealing with personal debt can be a bitter pill to swallow. Many myths do not help either, especially ones that suggest that recovering from bankruptcy is an impossible stigma to overcome. This is actually one of the chief reasons for seeking legal representation when debt becomes too much. Without the experience and understanding of federal and local bankruptcy laws, many of these myths will remain all too real for the people who need help.
Here are a few reasons why shame should not be what keeps and individual from seeking bankruptcy protection and how qualified, experienced representation can help to assuage those fears without absolving debtors from personal responsibility:
It Won’t Last Forever
The most common myth associated with filing for bankruptcy is the misunderstood severity of financial limitations. Many people think that their lives will be thrown into utter turmoil for 7-10 years by filing, and that their credit will be ruined. However, in most cases, this thinking is the only thing keeping an individual in financial turmoil. While it may be true, that it will be on your financial record for up to 10 years, you can often begin re-establishing your credit right away, while keeping your house and car. Of course there will be limitations, but usually an individual’s credit score will improve after discharging all that debt. Caution must be exercised, not because surviving bankruptcy is so hard, but often because predatory lenders can identify individuals as easy targets.
The Shame of Court
This is the best reason to have qualified legal representation when filing for bankruptcy. Often, a Seattle bankruptcy lawyer will be able to take care of all of the court proceedings without the client attending. Creditors are then required to immediately stop trying to contact the debtor, resulting in peace of mind. Besides, even in more complicated settlements, requiring the presence of the client, what is more embarrassing? Filing for bankruptcy or being sued by creditors?
Sure, there is plenty of blame to go around, and not least of all is the personal responsibility that one should feel upon borrowing their way to irreconcilable debt. However, there are more forces at work in a capitalist system that utilizes bankruptcy to remain healthy. Bankruptcy is a way to keep people active in the credit system that constitutes the heart of the economy. In many ways, it is a perfectly healthy outcome for people who find themselves in an uncontrollable situation, brought on by accident, health issues or loss of job. Its primary purpose is to allow people to re-enter this system with a second chance. Simply put, creditors are often too willing to extend credit and consumers are just as often too ready to accept it, and this gets factored into cost. Without the risk of sometimes overly optimistic future financial resources, the economy would grind to a halt.
So, shame, in the end, may be a great tool for keeping people with crushing debt languishing in repayment hell, but with the aid of a qualified bankruptcy attorney, help and recovery is but a consultation away.