subject: The Shock Of Bankruptcy [print this page] The Shock Of Bankruptcy The Shock Of Bankruptcy
If anybody would ask the average Kenosha bankruptcy attorney about their increase in business, the answer would probably consist of two different things One, is that they can, like every other type of business, use more, but that the human toll of seeing fellow citizens suffer does take its toll. Most every Kenosha bankruptcy attorney is showing a large increase in business year to date. Most every Kenosha bankruptcy attorney expects to see the business increase this year, despite the claims that the economy is taking a turn for the better. Most people who are sitting with their attorneys on a daily basis are surprised to be there. They were the last ones they thought would bet in financial trouble. And by all rights they should be correct, but this recession --the "Great Recession"-- has brought the worst economy in seventy years, and many people were living pay check to pay check and found that one or two problems put them on the road to economic disaster. So many people did not have any type of plan. They perhaps lost a job, or had an unexpected medical or repair bill, and then suddenly they were on a downhill economic slide that was hard to repair. Sometimes one thing happening is correctable. But when two disastrous things happen it is often enough to send a person's finances into a slide that is impossible to recover from. Then they seek professional help to reorganize their finances. They look for an attorney. Of course many other thousands of people are doing the same, so instant access and care might have to be delayed. Unless you play it smart and have a plan. The plan can consist of keeping a close watch on your finances. Just don't charge things thinking that the economy will soon right itself and that you will be able to float in the boat with a rising tide. The tide may not rise in your same place again; nor in the same way. Better to watch your finances, and take action at certain points. For instance, if you have lost your job but have savings, decide upon a point where if the savings reach a certain level that you will contact an attorney and get prepared to have to reorganize your finances. Once you retain a lawyer you may have to file a Chapter 7 or Chapter 13 consumer bankruptcy. Chapter 7 will have you selling your assets and repaying those you owe. Chapter 13 may have you keeping some assets and repaying those you owe on a schedule. Each case is different. Remember, though, that you must be your own best advocate. Your attorney will work very hard for you, but only you know where you want to be in two, three or five years. Your attorney is not a mind reader. It could be that you may be able to skip formal court proceedings and work out a private schedule with your creditors. Maybe your attorney will arrange for that money to be put in trust. There are many options individually, and the start to reorganize your finances can help deliver you from the endless collection phone calls and help you finally sleep at night.
