Miami Florida Bankruptcy Blog

Posts Tagged ‘bankruptcy process’

YOU EDUCATE YOURSELF ABOUT BANKURPTCY!

Many people make the decision to hire a bankruptcy attorney based upon a recommendation from a friend or family member or based upon an advertisement in the phone book or on TV.  This is can be a big mistake, if they have not taken the time to educate themselves about their financial situation and the bankruptcy process. They still don’t know enough to make an informed decision about bankruptcy and the attorney they want to file their bankruptcy.

Many people are intimidated when they meet with an attorney. They don’t feel comfortable asking questions because they don’t understand the process. Unfortunately, many of my fellow attorneys don’t do a good job making people comfortable during these initial consultations and don’t do a good job explaining to them the bankruptcy process. The result is that many people allow themselves to be pushed into a strategy that they don’t understand and because they don’t understand the strategy don’t feel comfortable with the attorney or the bankruptcy process.

Before scheduling your initial consultation you should take some time and do some research on the bankruptcy process. Why? Simple, by taking the time to educate yourself about the bankruptcy process you will be able to ask the right questions at your initial consultation to know if the attorney you are meeting with is the right attorney for you. By understanding the basics about bankruptcy you will be able to better understand what is being discussed at your initial consultation.

I highly recommend viewing the Bankruptcy Basics Videos online at http://www.coralgablesbankruptcyattorney.com. These videos will give you a very good basic understanding of the bankruptcy process and enable you to better understand what is being discussed at your initial consultation and give you a good basis to ask the right questions of the attorney you are meeting with.

Before you hire any bankruptcy attorney (including me), do yourself a favor and take the time to educate yourself about your financial situation and the process of bankruptcy. This small investment of your time will be well worth it!

Matthew E. Mazur, Jr. Esq., is the managing shareholder of Matthew Mazur, P.A., a Coral Gables, Florida based law firm that represents clients in Bankrutpcy matters. For more information please visit www.coralgablesbankruptcyattorney.com.

Many of my clients come to me only after putting themselves through unnecessary personal turmoil about seeking the protection of  Bankruptcy to relieve them from the bondage of debt.  So not only are they suffering financially, usually due to circumstances outside of their control, but they’re also suffering emotionally too.  But it doesn’t have to be that way!

There are many options a responsible bankruptcy attorney will help you consider.  And there are certain facts a thoughtful and considerate bankruptcy attorney will make you aware of  before just “putting you through the mill”.  So if mounting debts, specifically credit card bills, medical bills or foreclosure are threatening to pull your family under, you may want to consider bankruptcy as a way to push the “reset button” today.

If you’re feeling alone and depressed because you have problems with debt, cheer up — you’re in the company of the rich and famous.   As the following short list of famous Bankruptcy Filers confirms, anyone can find themselves unable to pay their bills.   A high income does not prevent you from financial problems.   This list proves that financial troubles don’t have to keep you down forever.   And the sooner you start the process, the sooner you’ll be able to look back one day and be glad that it’s over.  Most of these famous Bankruptcy Filers not only recovered financially, but many went on to earn great wealth after filing bankruptcy.

Partial List of Famous Bankruptcy Filers

• Lorraine Bracco – Actress (Dr. Melfi – Sopranos)
• Francis Ford Coppola – Film Director/Producer
• Walt Disney – Film Producer & Theme Park Pioneer
• Ulysses S. Grant – 18th U.S. President & Civil War General
• Johnny Unitas – Hall of Fame Quarterback

Don’t think that you are the only one going through this, you are not alone.  Take a deep breath.  Stop beating yourself up.   You need to know and understand that there is a way to deal with your financial difficulties.

Most Bankruptcy Filers don’t file because they were living high on the hog.  Sometimes it’s because they are up to their necks in medical bills.  Other times its because they or their spouse have lost a job.  Guilt and aggressive bill collectors often cause sleepless nights. For some, bankruptcy is the answer, for others, credit counseling or debt negotiation works. Each case is unique.

Here in the United States of America, our Founding Fathers recognized the importance of bankruptcy.  The U.S. Constitution provides our government with the right to make bankruptcy laws in order to give good people a “Fresh Start” when they get in over their heads because of circumstances beyond their control.

Everybody, not just big corporations and Wall Street have the right to get their own “personal bailout” from these hard economic times.  What options are there for you?

You can do nothing and hope the situation improves on its own.

Usually, ignoring the situation does not make it go away, no matter how much we want it to.  If you are in debt, every day that you do not take action to resolve the situation the amount of your debt increases.

You can contact your creditors and try to renegotiate your debts.

Sometimes, creditors will work with you, but many times they won’t or they will at very unfavorable terms.  It is always worth a shot to try and talk to your creditors and see if they are willing to work with you.

You can hire a lawyer to negotiate settlements for your debts.

Sometimes when creditors see that you have retained a lawyer to help you resolve your financial situation, they are more willing to work with you.  Sometimes they are not, again this is an option that is worth looking into.

You can get as second, third, fourth, etc. job to try to earn enough money to make your minimum monthly payments.

For most people this is not a viable option.  There either is not enough time in the day or you have other obligations that prohibit you from getting another job.

You can sell off valuable assets to try to raise money to resolve your debts

For most people this is not a viable option, as they won’t be able to raise enough money to make a difference.

You can evaluate whether or not bankruptcy is an option for your situation.

Bankruptcy is available to everyone in the United States who wants protection from their creditors.  You have the ability, today, to take control of your future, stop your creditors from harassing you and to get on with your life and back on the road to success!

Remember, doing nothing about your current financial situation does nothing to improve it.  Bankruptcy is an option if you are ready for it!

Matthew E. Mazur, Jr. Esq., is the managing shareholder of Matthew Mazur, P.A., a Coral Gables, Florida based law firm that represents clients in Bankrutpcy matters. For more information please visit www.coralgablesbankruptcyattorney.com.