For better or for worse, many people grow up to be deeply concerned with their reputation and how they are perceived by others. While in principle this seems like it could be a genuinely beneficial trait as it might motivate positive actions and behaviors, in practice it can instead prove to cause significant distress as an individual attempts to create a positive outward impression that is distantly removed from the actual reality of the situation. This is frequently true with regard to a person's financial circumstances as there is a social pressure to appear successful and at a minimum absolutely responsible with the repayment of debts. In some cases, filing for bankruptcy may be the best option.
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Despite the fact that there are instances in which seeking bankruptcy protection offers relief not only from the stress of lingering debts, but also from the anxieties caused by aggressive collection efforts. Frequent and threatening letters and phone calls can take a toll on a person's emotional health and may adversely affect his or her work life and interpersonal relationships. It is no coincidence that disputes regarding money are one of the most commonly cited causes of marital arguments and dissolutions. Choosing to file for bankruptcy protection can give you the opportunity to begin rebuilding your economic stability instead of continuing to struggle and scramble in the hope that something will improve.
Starting Over, Starting Better
In addition to the social taboo against utilizing the forms of protection afforded by the United States Bankruptcy Code, the immediate and lasting effect that a bankruptcy filing has on a person's credit score and his or her access to loans and credit also serves as a deterrent to some. This is regrettable, though, because an unmanageable debt load and an ongoing inability to make timely payments can trigger a perpetual condition that has the same consequences as a bankruptcy filing might but without the advantage of having some assistance with the resolution of outstanding debts.
After you have filed for bankruptcy protection, you will be followed by that fact on your credit report for up to 10 years and may struggle to obtain credit, but the same will be true if you are consistently failing to repay your debts. As you begin to rebuild after bankruptcy, the following are some important steps:
Adjust your standard of living to fit your new economic reality - if you continue with the same behaviors and habits that led to your bankruptcy filing, you will end up in the same difficult position Pay all of your bills on time, with no exceptions Seek a credit card so that you can aggressively start to rebuild a positive relationship with credit by paying your bill in full each month
The Help You Need
It can be intimidating to seriously wrestle with the issue of filing for bankruptcy or taking other steps to overcome massive debt. For the advice that you need contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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