We’ve been practicing bankruptcy law for over 35-years. One of the things we hear most from our clients is that they feel guilty or ashamed about filing for bankruptcy. They want to pay back their debts, and they feel badly that they are not able to do so. In our experience, the majority of debtors truly deserve the benefits of bankruptcy. Few people actually want to file for bankruptcy and fewer still are taking advantage of the system.
If you file for bankruptcy, you are not alone.
Across the nation, nearly 1 million people filed for bankruptcy protection in 2015. The previous year, well over 1 million people filed for bankruptcy protection.
In Georgia, 50,344 people filed for Chapter 7 or Chapter 13 bankruptcy protection in 2015.
By these numbers, you can see that bankruptcy is not uncommon.
There are many reasons why people file for bankruptcy. Prior to filing many people experience a job loss, divorce, death in the family, a costly medical emergency, or another unavoidable situation. The types of debt that cause the most problems are medical debts and credit card debts.
There is a common misconception that everyone who files for bankruptcy is bad with money. That is simply not true. Often it is an unavoidable and unforeseeable situation that leads to bankruptcy. Consider too that many successful people have filed for bankruptcy. If you file for bankruptcy, you’ll be in the likes of Walt Disney, Billie Joel, and Mark Twain.
Filing for bankruptcy is not shameful.
As we discussed in our article Living With The Stress of Debt vs. Bankruptcy, living with the weight of debt affects more than just your credit score. Financial stress has been linked to an increased risk of heart disease, ulcers, diabetes, migraines, and sleep disturbances.
You do not deserve the financial and emotional stress of trying to pay back debts you cannot afford. Filing for bankruptcy is not shameful. It does not make you a bad person, and it does not mean that you’re a failure.
Filing for bankruptcy is your legal right.
We proudly serve the people of Savannah, GA and the surrounding areas.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.