Considering Bankruptcy? You Can Make Things Right
Living paycheck to paycheck is simply part of life for many in Arkansas. When everything is going right, you have enough to pay your bills and perhaps a little left over. But when things go wrong, your financial situation can quickly deteriorate and leave you wondering how you’re ever going to again make ends meet.
At Rainwater, Holt & Sexton, we’re amazed at just how quickly a family’s financial situation can go south. Whether it’s due to a series of unfortunate events or one life-changing circumstance, a family who has never had financial trouble can quickly find themselves thousands of dollars in debt with creditors breathing down their necks. If that sounds like your situation, rest assured that you and your family have options.
To most people, the word bankruptcy means something negative. Truth is, it’s a process by which you make things right, financially, so both you and your creditors can move on to more productive things. Our system of commerce depends upon it. That’s right, our system of commerce actually wants people to declare bankruptcy when they need to. That way, creditors can know if a debt is actually collectible or not. If not, then all agree it needs to be discharged. If part of a debt can be paid, then all agree a plan needs to be implemented to pay that part over time. In the Bankruptcy Code, this process is called a wage earner plan. It is a court-ordered debt consolidation plan with the benefit of discharge of that part of debts that cannot be paid. Filing bankruptcy is not about fear, shame or guilt. It is about doing the responsible. It is about clearing out uncollectible debt. It is about getting overwhelmed debtors off the sideline and back in the game of American commerce. It’s about helping creditors identify what debt not to pursue, so they will not waste any more time and money pursuing uncollectible debt. Filing for needed debt relief — to be administered through the bankruptcy court — is something that is good for you, good for your creditors and good for America.
If you have fallen on financial hard times, call our experienced Arkansas bankruptcy attorneys today for a free consultation. If you’re considering filing bankruptcy in Arkansas, there’s a lot you need to know before you get started. Just call us. We’ll work to optimize your bankruptcy claim, so that you and your family can start again on the right foot. We will give you the information you need to take the right next financial steps. Don’t hesitate; contact us today.