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Bankruptcy Offers a Plan To Overwhelmed Individuals

Posted on in Bankruptcy

If you ask Amy Flaten, filing Chapter 7 bankruptcy was stressful and emotional, but it also allowed her to start a new life and get out from under credit card bills that she could no longer afford to pay. Flaten wracked up credit card debt when her boyfriend at the time was injured, stopped working, and brought home increasingly higher medical bills. Flaten was buried under the weight of the credit cards she used to finance purchases during that time, which led her to meet with bankruptcy attorneys to review her options.

Many people entering the bankruptcy process feel guilty, since most never planned to get so far behind and many intended to pay their creditors back. Unfortunately, all it takes in some scenarios is one bad incident to generate a chain reaction of debt that most people are unable to get out from under.

Emotionally, making the decision to file bankruptcy might be the most challenging part of the process. It involves acknowledging that things are out of your control and that you need help, which many people find difficult. Filing bankruptcy also immediately stops the harassing phone calls and communication from creditors, which can be a welcome relief for people who have been affected daily by these calls.

Filing bankruptcy can be an emotional fresh start when it comes to personal finances, which is just the kind of push that so many people need to evaluate their financial situation and develop long-term plans. Credit counseling centers and experts in bankruptcy can help you with strategies to stay on track in the future, providing beneficial advice and information for post-bankruptcy life.

Flaten says her attorney helped her navigate the legal process, encouraging her that she was making a difficult but important decision. Falling behind in bills and never feeling like you are able to get ahead is a sign that you should get up a meeting with an experienced Illinois bankruptcy attorney.

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