Who files for Bankruptcy is a question I am asked many times each day. Many people have a misconception of the typical Debtor. Many have visions of people buying flat screen TVs, computers, taking lavish vacations and just generally have a grand old time and then skipping out on the bill. In fact, 99.9% of the people I see in my office each day are exactly the opposite. They are using their credit cards for food, utilities and even mortgage payments. Many if not all of them are people just down on their luck to put it mildly. Most have either lost their job, had a major medical problem not covered by insurance or recently divorced. Then there are some that have a combination of the three above mentioned problems. Many of who I see felt their situation was short term. They used their credit cards for basic needs and thought it was only going to be a month or two. The house of cards falls apart when the month or two passes and their situation has not improved and the cards are maxed out. These are the people I see everyday, hard working Americas down on their luck doing whatever they can to meet their family’s basic needs. Most of the people I see have spent many agonizing years, trying to pay back their debt. Many have already paid back what they originally borrowed and are now just paying late fees, over the limit fees, interest and whatever other fees the credit card company can come up with. Many want to pay their debt back, but the credit card companies will not work with them. Most Debtors do not understand why the credit card company will not work with them on a payment plan, lower the interest rate or stop charging fees. That is one question I do not have the answer for. One would think that something is better than nothing which is exactly what the credit card company is going to get if a Bankruptcy is filed. I do not pretend to understand or try to figure out why a credit card company does anything.
The decision to file Bankruptcy is a very hard personal decision that many struggle with, sometimes for years. By the time most make the decision to actually go forward with a Bankruptcy filing and hire an attorney for said filing, it is way past time for them to file. Many should have filed a year two before hand. By filing when the first signs of financial troubles started popping up would have put them well on their way to recovery. It would have saved a year or two of harassing phone calls from creditors. It would have also saved them money. For example in that making just the minimum payment on a $1,000 credit card balance, with an interest rate of 17%, would take 12 years to payoff. Plus, you would be paying $979.00 in interest over those 12 years. My advice is when financial problems start popping up do not ignore them. Explore all your options, do not stick your head in the sand, take control and try to be proactive by heading off your financial troubles. Talk to professionals that can give you advice and guidance, many do not charge a fee to for a consultation.
Bankruptcy Attorney Erich M. Niederlehner, of Mobile, Alabama, Pensacola Florida & Fort Walton Beach, Florida provides qualitiy legal Bankruptcy services to the citizens of Escambia County Florida, Santa Rosa County Florida, Okaloosa County Florida, Walton County Florida, Mobile County Alabama, Baldwin County Alabama which includes but is not limited to the following cities:
Pensacola|Gulf Breeze|Milton|Pace|Midway|Pensacola Beach|Navarre|Navarre Beach|Jay|Century|Central|Cantonment|Crestview|Fort Walton|Destin|Niceville|Fort Walton Beach|Freeport|Mobile|Spanish Fort|Fairhope|Foley|Daphane|Silverhill|Grand Pointe|Gulf Shores|Orange Beach|Loxley|Elberta|
113 N. Palafox Street, Pensacola, Florida 32502 - Main Office
16 Ferry Road, S.E., Fort Walton Beach, Florida 32548 | 401 Church Street, Mobile, Alabama 36602
16 Ferry Road, S.E., Fort Walton Beach, Florida 32548 | 401 Church Street, Mobile, Alabama 36602
Toll Free: 877-607-2228
Pensacola: 850-607-2222
Alabama and Florida Bankruptcy Attorneys offer Affordable Bankruptcy, Debt Relief & Debt Consolidation in Alabama and Florida. Bankruptcy Attorneys provide Low Cost Bankruptcy & Discount Rates on Bankruptcy Attorney Fees serving Mobile, Alabama, Pensacola Florida & Fort Walton Beach, Florida.
Alabama and Florida Bankruptcy Lawyer – Attorney Erich M. Niederlehner Chapter 7 &13, Affordable Debt Relief & Bill Consolidation in Alabama and Florida.
Alabama and Florida Bankruptcy Lawyer – Attorney Erich M. Niederlehner Chapter 7 &13, Affordable Debt Relief & Bill Consolidation in Alabama and Florida.
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