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Truth About Bankruptcy

Separate the Truth from Myth & Fiction

Most don’t know the truth about bankruptcy. There are so many myths, and much misunderstanding about bankruptcy. If more people knew the truth about bankruptcy, more people would file. Sadly, misfortune and life’s tragedies must first befall us, before we open our eyes and start looking at our options, in many cases.

Truth About Bankruptcy

Everyone Has an Agenda

When you look for information about bankruptcy on the internet, you discover that much of what you read conflicts with other information. Why is this? Because everyone has an agenda. One site screams “7 Terrifying Things They Don’t Tell You About Bankruptcy.” This article reeks of misinformation calculated to make you afraid to look at bankruptcy as an option.

Don’t believe everything a bankruptcy attorney websites says, either. Attorney websites can have agendas too. Surprisingly, you’ll find as much misinformation on attorney websites as any others. Many bankruptcy attorneys have one thing to sell, so may be tempted to pitch bankruptcy as a “universal remedy” for debt problems. No single option, of course, works for every situation.

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Bankruptcy is Not Good or Bad

The hard part is to get past your own preconceived ideas and “things you’ve heard” about bankruptcy and try to analyze all your options fairly and equally. Resist trying to compare your case to someone else’s case you may have heard about. No two cases are alike.

Sure, there are downsides to filing bankruptcy. There are similar downsides to the alternatives to bankruptcy. Your goal is to “do your homework” so that you have a basic understanding of what all the options are, and what they can, and cannot do.

I’ve been recommending to my clients to do as much internet research as they can. This drives other attorneys crazy! Some of them think only they can understand this stuff. Nonsense! YOU can do a lot of investigating yourself, so when you do come in to get help evaluating your options, you’ll better understand how they compare.

The Truth About Bankruptcy and Non-Bankruptcy Options

The most dangerous situation for consumers is believing everything that debt-management companies say. They have one think in mind, and that is to sign you up with them before you explore any bankruptcy alternatives. They are not lawyers, so they cannot give you legal advice. Further, they are not bankruptcy lawyers, so they cannot give you a fair comparison of their program with bankruptcy. Even if they could, they’re not allowed to, since this would be practicing law without a license, and that’s a criminal offense.

The Truth About Bankruptcy and Non-Bankruptcy Options

Once you look at all the options, equally, fairly, and assuming you have good information, one option will generally be the best. Sometimes several are close. That’s when it becomes especially important to speak with someone like me, who can tell you, based on tens of thousands of cases and decades of experience, how these programs usually turn out for people.

Often, there are seemingly small details that can make the decision to chose one over another better for you.

When you need a powerful plan to get your finances on track, don’t be misled by websites with agendas. Do your internet research, and then speak with someone who can actually give you legal advice about all your options.

Richard West is trained, and certified and experienced in all debt relief options. He’ll make sure you know what not to do, as well.

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