Regaining Control of Your Life:  How filing for bankruptcy can put you back in the driver’s seat of your own life.

One thing is indisputable about making the decision to file for bankruptcy:  it puts you back in control of your own life.  Just think about that for a minute.  Your finances have been spiraling more and more out of control for the past months, if not years.  Belligerent bill collectors are harassing you via telephone and mail at all hours of the day—and night.  You’ve already tried to work things out with them, but they want to call the shots and tell you how much you can pay to keep them from constantly traumatizing you.  You’re a good, honest, hard-working person who wants to pay off all of your debt, but if you pay the hundreds of dollars each month they’re demanding, you risk losing your car and home, not to mention your job.  And then you won’t be able to pay any of your creditors!

Too many people feel ashamed at the mere thought of filing bankruptcy, but plenty of other people just like you are already making that journey toward the light at the end of the financial tunnel.

According to the American Bankruptcy Institute, approximately 41,134 Texans filed for bankruptcy in 2008, almost evenly split between Chapter 7 (which allows all debt to be discharged) and Chapter 13 filings (which provide the opportunity to pay back debt under a 3-5 year plan).  That number was actually up from 40,451 in 2007, and with the economy the way it is right now it’s likely to climb even higher in 2009.  Nationally, bankruptcies increased from 822,590 in 2007 to 1,117,771 in 2008—a substantial jump.

Think about those numbers when you feel all alone.  Other people have been in your shoes, and the experienced bankruptcy attorneys here at Allmand and Lee have helped many of them take back control of their lives.

Just keep in mind the importance of hiring an experienced, savvy bankruptcy attorney should you make the decision that filing for bankruptcy is right for you.  You know that old saying “Don’t be penny wise and pound foolish”?  You can lose more money in the long run by hiring a bad or inexperienced bankruptcy attorney, or, even worse, trying to represent yourself.  Think of hiring an attorney to guide you through the twists and turns of bankruptcy as an investment in your future.  Did you know that most, if not all, of your attorney’s fees can be paid through filing Chapter 13 bankruptcy?  Those considering filing for bankruptcy should do a cost benefit analysis to decide whether a relatively minor expense now may well save a whole lot more money—and peace of mind—in the long run.

Whatever your decision, please consider taking steps to regain control over your life.  We’ll be here for you when you do.

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