Is Bankruptcy Really a Last Resortdamg2023-11-10T19:53:47+00:00
Is Bankruptcy Really a “Last Resort?”
It is frequently said that bankruptcy should be avoided at all costs or that it should only be considered as a “last resort” for people experiencing financial difficulties. This “advice” is oversimplified at best and totally wrong at worst. In fact, it is generally creditors, credit card companies, and debt-settlement companies that dispense this “advice.” In some cases, filing for bankruptcy should be delayed until other attempts have been made to resolve your financial difficulties. In other cases, it is imperative that you file for bankruptcy protection as quickly as possible. Your legal rights can be lost or diminished by delay. Prompt action may be needed to halt a vehicle from being repossessed, to delay an eviction, to prevent utilities from being shut-off, stopping foreclosure proceedings, or preventing a wage garnishment from going into effect.
How Do You Know Which of These Two Situations Apply to You?
The best way to determine which situation applies to you is to schedule a FREE initial consultation with a knowledgeable Tulsa bankruptcy lawyer who can confidentially discuss your financial situation and help you determine whether the best course of action is to attempt to resolve your financial difficulties outside of bankruptcy or to start the process of filing for bankruptcy protection.
Congress created bankruptcy laws not just to help creditors, but to help and protect debtors as well. Most people do not know that they have a constitutional right to file bankruptcy. Yes, you read that correctly. You have a constitutional right to file for bankruptcy. Despite what creditors want you to believe, there is no shame in filing for bankruptcy protection and bankruptcy is not a moral failing. Bankruptcy is a legal tool at your disposal and it may actually be the best tool available to protect your assets and to secure your financial future.
If you would like to know more about bankruptcy in Oklahoma and whether it is the right time for you to file, we can help. Contact the Henson Law Firm at 918.551.8995 or click “Schedule a Free Virtual Consultation” to set up a FREE and confidential initial consultation.
*We are a debt relief law firm in Tulsa, Oklahoma.
*We help people file for bankruptcy relief under the Bankruptcy Code.