What is the Bankruptcy Bargain?

Many clients let fear or guilt cloud how they react to financial trouble. They let their past mistakes influence how things go moving forward. The bankruptcy court does not penalize your financial miscues. Instead, it rewards people who can own up to their mistakes with honesty.

The essential bankruptcy bargain to remember is that the court will grant huge relief in exchange for a client being 100% truthful about their money and their debts. That’s it. While it is also true that different types of relief are available depending on circumstances (usually income and assets), all bankruptcy cases boil down to a client telling the truth and getting rewarded by the court for it.

Do you wonder which debts you could extinguish with a little honesty? If you live in Western North Carolina, I would be happy to inform you in a free, confidential consultation.