I’m sure there aren’t too many people in the Milwaukee area who would be surprised to hear that the vast majority of people in southeastern Wisconsin, and America in general, have faced financial hardship at one point or another throughout their lives. There are a whole host of reasons people face these hardships, and there is a huge variance in how long these hardships last. For some people, their hardships may only be temporary and for a very specific and limited cause, and it’s very easy for them to see “the light at the end of the tunnel.” For others, it may seem the financial hard times will never end…and they just can’t imagine getting to a better place in terms of their finances.
It’s also true that sometimes it’s a matter of perspective. I think we have all heard of an actor or athlete who made millions of dollars and ended up broke only a few years later. They may consider “financial hardship” as being no longer able to afford any sports car they desire. Conversely, someone used to living on a much smaller salary may only consider themselves to be facing “financial crisis” when they no longer have the bare minimum to pay their bills and feed their family. Needless to say “financial hardship” can sometimes be just as much a matter of external situations, perspective, and duration as it is about simple dollars-and-cents math.
Today’s post is titled “The Truth About Bankruptcy” for good reason. We want to take a look at some of the nuances of bankruptcy as well as some of the positives and negatives of using bankruptcy law to address a financial hardship. At Burr Law Office LLC, we’re committed to, first and foremost, doing what is in your best interest. While bankruptcy can be a great tool for some situations, we also want to work with you so that you will fully understand how it will affect you – and how you can best protect your future and your family’s future in your unique situation.
First of all, it’s important to understand that bankruptcy will affect your credit history. Depending on which type of bankruptcy you file, it may be either seven or ten years. While this may affect your ability to make some major life purchasing decisions, it may also not hinder certain other decisions (ones you may have assumed it would). When we work with you, we want you to have a complete understanding of the process and what it will mean for you going forward. Depending on upcoming purchases or life situations, alternative solutions may be considered. These considerations may also determine which type of bankruptcy to file.
Second, it’s also important to understand that bankruptcy can be a great tool to help you protect you and your family’s future. While the idea of having a bankruptcy on your credit history may sound unappealing, there are many cases where getting out of debt and starting over with a clean slate is definitely the best option. There are countless stories of people who have used bankruptcy to start over and have ended up coming out of the entire process in a much better situation. For some, they have even used the process and the experience to teach themselves about managing money and become very savvy – and even wealthy – as a result.
At Burr Law Office LLC, our bankruptcy attorneys always want to be upfront and honest when we deal with our clients. We’ll always tell you the truth about bankruptcy, and that means sometimes there will be difficult decisions to make. No matter what we do, we’ll always look out for your best interests and work to protect your financial future. For us, that means we will tell you what to expect when filing for bankruptcy, even if it may be something unpleasant. On the other hand, we’ll also be honest with you about letting you know when filing truly is your best option – and the best thing you can do to protect your future.
If you’re facing financial difficulty and need to know what your options are, call Burr Law office and set up an appointment with one of our skilled Milwaukee bankruptcy attorneys today. We’ll provide you with real, honest, no-nonsense information about your options. Our commitment to all of our clients is to always look out for their best interest. When you meet with us, you’ll understand why thousands of clients have trusted us to protect their financial future.