It’s easy to get impulsive and overspend during the holiday season. Being strict with your budget, generating more income by working overtime or adding a part-time job and/or stop using your credit card may not be enough to recover from post-holiday debts that racked up.

If you have major financial issues, you may need to take a look at bankruptcy as a solution. Serious financial problems include: foreclosure, garnishments, tax debt, student loans, medical bills, credit card debt, or pay-day loans. You may not be able to cure the financial problems by just working a few more hours of overtime. Your financial situation may have been caused by disability, divorce, or a job loss but what is important is to get help and “a fresh start in 2013.”

Bankruptcy is a good option that allows you to “start over” and move on. Many people are afraid bankruptcy will ruin their credit but most often their credit score is already low because of late or missed payments. Others are ashamed to file bankruptcy. However, there should be no shame, blame or guilt attached to bankruptcy when you are taking the responsibility to face the problem. Most people cause the financial problems from disability, the economy, or a divorce on purpose.

Bankruptcy as a Solution

Blame, shame, guilt and fear doesn’t cure the problem. Instead it is a lot better to talk to a professional to look at a long term solution. An attorney can help you assess your situation. Cashing in the retirement you will need later is seldom a solution. Often that just causes more tax problems from cashing it in. Mortgaging the home also causes problems and often a foreclosure.

If you don’t need to file bankruptcy, a good bankruptcy attorney will tell you. But if you do need to file bankruptcy, we will help you plan a bankruptcy and answer your questions and concerns. We can analyze with you whether you need to file a Chapter 7 to get rid of all your unsecured debt or a Chapter 13 in order to catch up past due mortgage payments and save your home. A garnishment will be stopped by filing either type of bankruptcy. But planning it right is important if you need to wait to file your bankruptcy because waiting would help eliminate a tax debt or you’ve transferred some property to a relative.

We will ask you all the questions to help determine your personal situation and determine how to make a bankruptcy work best for you. We offer a free consultation but make sure you chose a capable and experienced attorney to help you assess your needs. Cheap advise can cost you.

Bankruptcy is a difficult decision, but filing a bankruptcy may be your best bet to get some relief in 2013.

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