IF you have serious debt problems, you may feel depressed and alone. It may seem like the end of the world. Your self-esteem may have suffered. You may feel angry, depressed, guilty- or a combination of all three. You may consider yourself a failure, perhaps feeling angry with yourself for certain decisions you have made in the past that led to your present situation. I understand how you feel.
A lot of people in your shoes feel the same way, but I’m here to tell you that like most things in life, whatever you’re going through is most likely only temporary and will soon pass. How can I possibly say this? Well, did you know that as I write this article, millions of honest, hard-working people just like yourself are having problems paying their debts? As a matter of fact, there are more than 1 million personal bankruptcy filings in the United States every year as a result of being in debt. Do you think these people file bankruptcy simply because they do not want to take personal responsibility for their debts? Far from it! It is an established fact that most people who file bankruptcy do so as a result of circumstances beyond their control. Study after study has shown that some of the most common reasons why people file for bankruptcy -unemployment, sickness, disability, death in the family- are events which are beyond our control. It is not always your fault. So quit blaming yourself because doing so will not get you anywhere.
So if you’ve found yourself in a situation where bankruptcy is the only way out, don’t be too hard on yourself. It’s not as bad as you think. Like most people, you will survive bankruptcy, get on with your life and do just fine. Wallowing in self-pity and feeling sorry for yourself will not help your situation one bit. As a matter of fact, having such negative feelings may impact your ability to make intelligent decisions in the midst of problem-solving. Instead, be proud of the fact that you have affirmatively taken action to change your life for the better instead of remaining stuck where you are. Can you imagine where a lot of people would be right now if we didn’t have bankruptcy laws in this country that help deserving individuals get out of debt legally when they are no longer able to help themselves?
This may not be relevant to you but even large corporations file for bankruptcy protection when they find it necessary in managing their business affairs. They understand that bankruptcy is nothing more than a legal strategy to cope with debt problems when no other options are available.
Of course, I’m not going to tell you to file bankruptcy unless I knew all the important and relevant facts in your individual situation. Doing that would be irresponsible because bankruptcy is not a one-size-fits-all solution. As a matter of fact, there are certain cases where bankruptcy should not even be considered as it may do more harm than good. On the other hand, when appropriate, it could be the best decision you ever make in your life.
As a bankruptcy attorney, I am perplexed as to why some people wait until the last minute to do something about their debt problems when they could have taken action sooner to stop things from getting worse. If you haven’t taken the time to find out what your legal rights are, it’s important to do that, the sooner the better. Soon, after you realize that things may not actually be as bad as they first seemed when you didn’t know any better, you’ll look back to this moment and thank yourself that you took the first step.
As you consider the possible benefits of bankruptcy protection, you might like to call us for a free consultation at Toll-Free 1-866-477-7772. We have offices in Glendale, Cerritos and West Covina.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped more than 4,000 clients in finding solutions to their debt problems. To schedule a free attorney consultation, please call Ray Bulaon Law Offices at TOLL FREE 1-866-477-7772.
( Published on November 26, 2008 Asian Journal Los Angeles p. B2 )
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