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Saturday, July 13, 2013

The Bankruptcy Option

Most of us probably worry of what tomorrow holds for us and our beloved family. It is but normal to have that feeling especially when work is unstable. What would you do? Just the other day, we were driving the neighborhood and scouting for rental property along the beach. There were quite a few condo unit with "for sale" sign. My thoughts wandered on the former owners on those properties. There were short sales and in most cases, I knew that the option was there to avoid bankruptcy.

"A big part of financial freedom 
is having your heart and mind free 
from worry about the what-ifs of life."

So far, to avoid having to deal with bad credit history, short sale is a great option but, if there is no other means, let it go and stop worrying. If bankruptcy is the last option there is so; be it. If you live in North Carolina, check the nc bankruptcy laws in your state. Do that as well if you live in other states. Start a new life and learn to live according to your means. You will not be financially ruin for life if you act now. I know two families who filed bankruptcy and after 5 years, they are still together, got their jobs, got their house and they are happy. It might work for you too.

10 comments:

  1. I know a few people who have filed bankruptcy. Some it helped tremendously, others it was just an easy escape for now and they ended up back in the same position. It's a tool to help not take advantage of for now. Once people realize that then and only then should they consider it as an option.

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  2. I don't personally know anyone who's filed for Bankruptcy but that's good it's an option when there's no other choice.

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  3. we filed last year to keep our house and car and so far it's been a good decision car has only two payment left and that is good

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  4. You definitely need to consult a bankruptcy lawyer if you decide there is no other way--there are companies that can help you to avoid bankruptcy also-maybe I will blog about that option soon!

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  5. What a difficult decision
    Important to talk to expert and let them guide you

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  6. It is important to explore other options before filing. Make this your last option.

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  7. I love that the option of Bankruptcy is out there unless it is abused. You definitely want to consult an attorney. I worked for a Bankruptcy Trustee for years and could tell you lots of stories.

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  8. It's really nice to know about bankruptcy.

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  9. I wish we would never get to the point where we have to file for bankruptcy. but it's good to know that this benefits exists.

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  10. A guidance of a professional when filing a bankruptcy is a must.

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