5 Reasons You Should Avoid Bankruptcy Horn Lake MS

When people get into financial trouble, they generally look for the least destructive option that they can find to help them get back on track. This is quite obvious, and it's no wonder that so many people put bankruptcy off until the last second. Here are some of the most common reasons that people should avoid bankruptcy.

Total Bankruptcy has a participating attorney in OLIVE BRANCH
(866) 525-2557
5540 Goodman Road
OLIVE BRANCH, MS
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Take control of your finances today! We have an extensive nationwide network of local, sponsoring bankrupcty attorneys. Call to discuss your options for stopping creditor harassment. We also have information on filing for chapter 7 and chapter 13 bankruptcy. Personal bankruptcy may be an option for you. Call today!
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Nicholas Joseph Tansey
(901) 327-2100
3100 WALNUT GROVE RD STE 610
MEMPHIS, TN
Specialties
Bankruptcy
Education
Mississippi College School of Law ,University of Tennessee, Knoxville (main)
State Licensing
Tennessee

Darrell Lane Castle
(901) 327-1212
3100 WALNUT GROVE RD STE 610
MEMPHIS, TN
Specialties
Bankruptcy, Personal Injury
Education
East Tennessee State University ,Memphis State University School of Law
State Licensing
Tennessee

Carrie Ann Rohrscheib
(901) 271-0712
88 UNION AVE STE 700
MEMPHIS, TN
Specialties
Business, Litigation, Bankruptcy, Appeals
Education
University of Memphis - Cecil C. Humphreys School of Law,Rhodes College
State Licensing
Tennessee

Nolan Michael Johnson
(901) 543-5937
100 Peabody Place, Suite 900
Memphis, TN
Specialties
Litigation, Bankruptcy
Education
University of Memphis - Cecil C. Humphreys School of Law,Washington University
State Licensing
Tennessee

Michael Don Harrell
(901) 274-5462
1884 SOUTHERN AVE
MEMPHIS, TN
Specialties
Bankruptcy, Real Estate, Car Accident, Criminal Defense
Education
HOWARD
State Licensing
Tennessee

Mary Hollis Williams Craft
(901) 327-2100
3100 WALNUT GROVE RD STE 610
MEMPHIS, TN
Specialties
Bankruptcy
Education
University of Memphis - Cecil C. Humphreys School of Law ,Florida Southern College
State Licensing
Tennessee

Robert Anthony Chamoun
(901) 521-0084
100 N MAIN ST STE 1921
MEMPHIS, TN
Specialties
Family, Personal Injury, Criminal Defense, Bankruptcy
Education
University of Mississippi School of Law ,Mississippi State University
State Licensing
Tennessee

David Jeffrey Harris
(901) 524-5120
130 N COURT AVE
MEMPHIS, TN
Specialties
Litigation, Banking, Bankruptcy, Real Estate, Arbitration
Education
University of Memphis - Cecil C. Humphreys School of Law,Louisiana State University
State Licensing
Tennessee

Raymond Spencer Clift III
(901) 577-2216
165 MADISON AVE STE 2000
MEMPHIS, TN
Specialties
Bankruptcy, Litigation
Education
Samford University, Cumberland School of Law,University of Tennessee, Knoxville (main)
State Licensing
Tennessee

5 Reasons You Should Avoid Bankruptcy

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When people get into financial trouble, they generally look for the least destructive option that they can find to help them get back on track. This is quite obvious, and it's no wonder that so many people put bankruptcy off until the last second. Here are some of the most common reasons that people should avoid bankruptcy if they possibly can:

-If you are asked about filing bankruptcy on your job application or loan, you are obligated to say yes. It doesn't matter if it's been three years or 30, because answering no at anytime is considered a criminally fraudulent act.

-Bankruptcy stays on credit reports for up to 10 years, and today's fast-paced world doesn't have the time to wait 10 years for your credit to improve.

-Bankruptcy brings a lot of emotional baggage with it. There are many common responses in people who have filed bankruptcy about their emotions that include stress, anxiety, guilt, and even a sense of failure. Financial stress is hard enough, but bankruptcy might be enough to put people over the edge.

-Employers are checking credit reports. Applicants with bad credit could be perceived as irresponsible and therefore less desirable to hire. You might not be able to get the job that you want because of your bankruptcy filing, so make sure that the short-term relief doesn't cost you your future.

-Every state has an average income. If you earn above that mark, you will generally fall into the category of consumers that file Chapter 13, not Chapter 7. Chapter 13 requires you to get involved in a 3-5 year payment plan that is court mandated and will make you use all of your disposable income to repay your debts over the term of the program. Plus, even though you are repaying your debts, the bankruptcy still shows up on your credit report, negatively affecting your credit for up to 10 years after the payment program is completed.

These are some very important things to consider when it comes to filing bankruptcy. You need to make sure that you take the time to weigh the options and seek professional assistance to determine which debt relief options are best for you.

 

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