myths surrounding bankruptcy

Need A Raise? File Bankruptcy

Financial stress is a common form of anxiety and worry. In a recent CNBC article, it was reported that 30% of Americans say they are constantly stressed out about money. The stress is due not only to existing bills and debt, but also to the threat of unexpected expenses. If money is already tight, even the thought of a small unexpected expense can cause a great deal of anxiety.

Free Yourself From Financial Stress

There are two primary ways we can free ourselves from financial stress. First, we can make more money. While increasing your income is not an option for everyone, it does solve the financial problem for some Americans. So long as your expenses don’t increase with your income, you should be able to better manage your debt. For most of us, the idea of increased income is a good one, but the reality is we don’t have the option to do it or we would have done it long ago.

The second way to free yourself from financial stress is to reduce debt and expenses. If you’re like most clients we work with, you’ve already reduced your monthly expenses, and you now realize it’s the debt that is causing most of the stress. This is where filing a Chapter 7 or Chapter 13 bankruptcy can change everything.

Filing Bankruptcy Is Like Getting A Raise

It’s time to put the myths of bankruptcy aside and start focusing on the benefits of bankruptcy. Consider this: if you have $500 a month in debt payments you are making, your bankruptcy will eliminate those payments provided they are related to credit card debt, medical bills, or other unsecured debt. You were spending $500 of your post-tax money a month on those bills. Assuming you’re taxed at roughly 27%, that is roughly $700 a month in pay. When you calculate it annually, it comes to $8,400. Under this scenario, by filing bankruptcy, you effectively give yourself a $8,400 raise. For most Americans, a raise like that is a game changer. Add to that the fact that the debt is gone, and you realize financial relief is a few simple steps away.

But Isn’t Filing Bankruptcy Stressful?

No, filing bankruptcy is not stressful. We know our clients sometimes have an emotional response to the idea of filing bankruptcy. Once we’ve had an initial consultation and decided to make a decision that benefits us and our families, the idea of filing bankruptcy shows itself as a solution.  When we have a solution to our problems, we experience peace and joy—the opposite of stress and anxiety.

How Do I Get Started?

Getting started is so very easy. You simply make a phone call and discuss your options. The call will take about 20 minutes. After, you’ll be provided with a login and password where you can enter some specific information to help us determine if you qualify for Chapter 7. Most clients do, and those who do not can qualify for Chapter 13 in most cases. Either way, the debt goes away and peace is restored to your life.

Speak With A Bankruptcy Lawyer Today

Call us at 704.749.7747 or click for a FREE CASE EVALUATION and we will reach out to you. We know financial stress is tough. There is a solution, and we are proud to be part of it. We hope you choose to Recover With Us.