You should not be embarrassed about having to file bankruptcy! Instead you should be proud that you found a solution to your overwhelming financial problems.
Over the many years that I have been a NJ bankruptcy attorney, many people have told me that even though they are drowning in debt they are embarrassed that they can’t pay their bills. They say they feel embarrassed that they must file bankruptcy to get rid of their overwhelming debt.
They often tell me that filing bankruptcy means that they have failed. Bankruptcy does not mean you are a failure. In my opinion, it is the opposite. It means that you have taken the necessary steps to stop drowning in debt and get a financial fresh start.
There is no reason to feel embarrassed about filing a NJ bankruptcy.
Common Causes Of Bankruptcy
For most people, their financial problems and overwhelming debt are caused by circumstances outside their control. They did not purposely get into debt with the plan of filing bankruptcy. Some of the most common reasons people get into debt and have to file bankruptcy are the following:
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Medical Bills:
Medical debt is a common reason people file for bankruptcy. This situation can be caused by a serious illness or lack of adequate health insurance. Medical bills are dischargeable in bankruptcy. For more information on how bankruptcy can eliminate medical bills see our blog on getting rid of medical debt in bankruptcy.
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Job Loss:
Job loss is another common situation that leading to debt and the need to file bankruptcy. It is difficult, if not impossible, to pay your bills after you have lost your job.
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Divorce:
In addition to the emotional costs that divorce creates, it also often creates financial issues. The same income that was paying for one household now must support two separate households. There are also moving costs, and often significant attorneys’ fees.
Other common causes are a failed business when the owner signed personal guarantees, or when a loved one dies and there are significant funeral costs. You have probably struggled for a while, trying to make ends meet before you even considered the possibility of bankruptcy.
Bankruptcy Is A Constitutional Right
Bankruptcy is your Constitutional right as it is set forth in the United States Constitution. It is often said to be one of the most helpful laws we have. Without the ability for honest individuals to file bankruptcy, people could be drowning in debt forever.
Don’t let embarrassment stop you from filing bankruptcy.
Many Famous People Have Filed Bankruptcy
Many famous people including business people, entertainers, and politicians have used the United States Bankruptcy laws to help them get out of debt and get a fresh start. It is often after their bankruptcy filing that they experience their greatest success.
You Are Not Alone
If you are having difficulty paying your bills-know you are not alone. Thousands of people file bankruptcy every year. It is often said that many Americans are just one paycheck away from bankruptcy.
We Can Help You Get Debt Free- Contact Us To Get A Free Consultation
Bruce Levitt and Shelley Slafkes have helped thousands of honest, hardworking people just like you eliminate their debt and move forward.
Contact us to schedule a free consultation to see how we can help you!
You can call our office at (973) 323-2953, or contact us online.
We are proudly designated as a debt relief agency by an Act of Congress. We have proudly assisted consumers in filing for Bankruptcy Relief for over 30 years. The information on this website and blogs is for general information purposes only. Nothing should be taken as legal advice for any individual case or situation.