ColdFusion Developer Center

Bankruptcy can be the first step in financial recovery

Improving your financial position

I can recall the story about a poor old widow who died after finding a purse around his waist that held thousands of dollars. He found the purse belt in the trash while rummaging, and decided to keep him. But he never opened the bag. So he went on living the rest of his days without knowing what he was missing. His life would have been much better if it had been possible to cope from financial stress.

The tale of the poor old widow comes to mind as I reflect on how many people are still burdened by debt despite the fact that they have the right to seek help. I know that not everyone will agree with me on this point. I do make my living as a lawyer in New Mexico Bankruptcy. As you read this article I ask you to be as open-minded as possible. What I am trying to do is make it clear that laws are made to help and not hurt people. Please bear with us for a minute.

Our bankruptcy laws are passed

Congress has passed bankruptcy laws in an effort to provide a fresh start for honest people who find it difficult to deal with their debt problems. Congress realizes that no one is perfect. However, it is possible to help someone who is struggling to manage their finances. This notion of “new startings” is the core of our bankruptcy laws. It has become an integral part both of our society and economic system.

Money affects nearly every area of life. Therefore, money problems may have devastating consequences for the family, which is our most fundamental social system. It is safe to say that our bankruptcy laws are primarily beneficial for the families of this nation. Can you visualize how many families might be struggling to make ends meet if the bankruptcy laws didn’t exist? Because of the potential dangers to children’s health and well-being, parents with dependent children face more difficult problems than those without debt.

Be aware that bankruptcy may be an option for you if your debt problems are severe. However, the purpose of our bankruptcy laws was to ensure financial recovery is available to everyone who needs it. But filing for bankruptcy does not necessarily solve all financial problems. Your bankruptcy lawyer must carefully examine your situation, weigh both the pros & cons, and recommend the best course of action. A clear goal should be established when filing. The chances of success for each type should also be considered. Is your goal to eliminate or consolidate debts so they are easier to manage? Are your assets or legal rights at stake? How can they be protected and at what expense? These are some questions you need to answer.

To speak with a bankruptcy attorney about your options to get rid of debt, please dial Toll Free 1-866-4777772

Source link