Inflation … you’ve heard about it in the news, felt the impact in your wallet – you may have even searched for “chapter 7 bankruptcy lawyers near me”. There’s no doubt that rising costs are having an impact on our daily lives.
Gas prices in Michigan have risen more than a dollar per gallon since the beginning of the year (Source: Gas Buddy). Food prices have risen about 10% since last year (Source: US Bureau of Labor Statistics). All of this is straining family budgets to the limit.
As a bankruptcy lawyer, clients sometimes ask me what they can do to try to balance their budgets and avoid bankruptcy.
The choice to declare bankruptcy is a difficult one. I believe that bankruptcy should not be seen as a negative. When you fall on hard times due to job loss, illness, or rising costs the process is in place to help honest people get a second chance.
Time for a Financial Health Check
Any time is a good time for a financial check-in, particularly if you’re feeling your money is being stretched more now. Before start searching for a “chapter 7 bankruptcy lawyer near me,” here’s a few things to consider:
- Do you track your monthly spending? If not, it could be time to start a budget.
Tracking your spending allows you to see where your money is going. Include even the smallest receipts – those small purchases can add up fast! Check out these Money Management tips from Michigan State University. - Ditch the subscription services
Subscriptions are the silent budget-killers. You sign up for low-cost plans, only to forget to cancel them once the price goes up. Even worse, many services make it difficult for you to unsubscribe. Set aside time to go through your credit card bill(s) and look for subscription services you don’t need, then cancel them and watch the savings add up! - Do you have assets you can sell?
If you’re deep in debt, you may need to look at selling some of your assets. No one likes to think about selling a cottage, vehicle, or family heirlooms, but if you need cash to pay off debts, that’s the first place to start. - Consider debt settlement
Debt settlement is where a creditor is convinced to accept a smaller amount to pay off a debt. They do this because they know if you file for bankruptcy, they may get little or no money. If you think debt settlement might be right in your situation, reach out for a free consultation.
You can learn about other steps you can take to avoid bankruptcy in our blog Alternatives to Filing for Bankruptcy in Michigan.
A Qualified Bankruptcy Lawyer Can Help in So Many Ways
As an experienced bankruptcy lawyer, I know first-hand how confusing and difficult the bankruptcy process of filing for bankruptcy can be.
Whether you’re filing a Chapter 7 or Chapter 13 bankruptcy, want to know about debt consolidation, debt settlement, or fighting back against bill collector harassment, you’ll receive professional, positive, and patient advice to help you get back on track.
You Can Afford a Bankruptcy Lawyer
If you’re thinking that your debts mean you can’t afford a bankruptcy lawyer, think again. An experienced bankruptcy lawyer will practically pay for themselves.
They’ll give you confidence with every step of the process, and provide personal advice to help you get the best possible outcome. They’ve been through the process many times – this is likely your first time. So count on an expert to help you do it right.
The job of a bankruptcy lawyer is to protect your most important assets from debt collectors and find a way to free you from financial burdens. After your bankruptcy, they can provide assistance and advice to help get you back on track.
Does Your Bankruptcy Lawyer Offer Affordable, Flexible Payment Plans?
When you search for “chapter 7 bankruptcy lawyers near me,” I hope the Law Office of Stephanie Krane-Boehmer comes up in your results. I have the experience you need when you need it the most. I offer affordable fees with flexible payment plans to make sure you get the results you need with costs you can afford.
Whether you need protection from debt collectors, or advice and help filing for divorce, contact my office to get started – I’ll take some of the worry off your shoulders.