As a bankruptcy attorney in Asheville, I recommend a bankruptcy case for about half the people I meet at an initial consultation. Half of the people I see, in my opinion, are better off not filing a case. For those folks, we spend the bulk of our time together at their free consultation discussing bankruptcy alternatives and strategies.
For the people I meet who I recommend a bankruptcy filing for, we generally have two challenges. First, we need to develop a strategy for how the bills are going to be paid after we achieve a bankruptcy discharge, immediate relief has been achieved, and their case is over. Second, we need to direct a client’s energy and effort into our recovery strategy, instead of letting negative emotion delay moving forward.
For those of you with concerns about treating your corporate creditors fairly, please read this Rolling Stone article by Matt Taibbi: Secrets and Lies of the Bailout. The article explains how greed and corruption by these corporate creditors has caused and extended the mortgage crisis. More simply put, the reason home values fell in 2008 and have failed to come back yet is that banks were using “emergency aid” bailout funds for profit instead of to help the people who funded it, us taxpayers.
I believe in our bankruptcy code because I think it is one of the few recovery tools available for people overwhelmed by our economy’s downturn. Creditors, usually big banks, have plenty of tools at their disposal as demonstrated by Taibbi’s article. If filing for bankruptcy can help, I don’t believe anybody should feel guilty for doing so. The big banks, on the other hand, should be ashamed of what their greed has done to people living in the United States.
If you need help, and want to talk to someone about recovery strategies, I would be pleased to speak with you during a free, initial bankruptcy consultation.
*The information contained on this website is not intended and does not constitute the providing of any legal advice or any legal opinions or services to any user thereof. The information available on or through this web page is not intended and shall not be used as a substitute for the advice and consultation provided by an attorney. Any factual examples used to illustrate concepts are hypothetical and do not depict actual events or real persons.