A Bankruptcy Attorney in Tallassee AL helps people get a new start when they are overwhelmed with debt. It can be difficult to become financially stable when a person is suffering from feelings of guilt, embarrassment, inadequacy, and shame.
Chapter 7 and Chapter 13
Chapter 7 bankruptcy wipes out most debt, which is advantageous for starting fresh but can leave the individual feeling guilty about not repaying obligations. Filing for Chapter 13 with a Bankruptcy Attorney in Tallassee AL sets up a plan that allows debtors to make monthly payments more affordable. However, this repayment option comes with its difficulties. The person still has the same amount of debt to plow through, which may feel daunting.
Being honest with oneself during this process is important, but self-condemnation is pointless. Admitting that mistakes were made and forgiving oneself for creating the situation is a significant step on the road to emotional healing. Blaming others is not an effective way to handle the problem, since the person must start taking charge of his or her finances and prevent debt from spiraling out of control again.
A Chance to Learn
Feeling like a failure is natural after a setback like this, but it’s a chance to learn from errors and to address the lack of knowledge and skills related to personal financial management. There may have been outside forces leading to the bankruptcy filing, but this can still be a learning experience. For example, using credit cards to pay bills after losing a job can seem like the only option, but it’s an act of desperation that can lead to much bigger problems.
A Scary Time
The time leading up to filing for bankruptcy can be very scary. Creditors keep calling, and the person has no way to pay everyone. He or she may be facing eviction or foreclosure and repossession of a vehicle. Credit card companies may be threatening to sue. The person may already have been contacted by at least one law firm representing a credit card company. Hiring professional legal representation from an organization like Courtney & Mann LLP is a relief.