Blog

Cross Bankruptcy Off Your Summer To-Do List

by Luke Homen

Summer should be the time to relax and take some time off. You can’t function well and go full speed all the time. You may have many issues weighing you down, including work, family, personal, or financial issues. As much as you may fear making a decision, letting them smolder makes them worse. If you’re in financial trouble, it may be time to declare bankruptcy, put it behind you, and enjoy your summer. For expert guidance through the bankruptcy process, consider consulting with a bankruptcy attorney.

Bankruptcy might sound scary, but getting a fresh financial start sounds great. Bankruptcy can give you and your family the new start you need. Call the Convenient Bankruptcy law firm at 405-296-0069 so we can help you explore your options. If it’s more convenient, fill out our online contact form. When facing overwhelming financial challenges, seeking the assistance of an Oklahoma bankruptcy lawyer can provide clarity and peace of mind.

Make the Right Decision – Bankruptcy May Give You What You Need.

Most of us can keep our financial heads above water, but for the rest, that’s simply not the case. Whether it’s due to a job loss, health condition, divorce, struggling business, or bad investment choices, the numbers literally don’t add up. Despite this situation, some struggle with deciding whether to seek bankruptcy protection. To navigate this decision wisely, consult with a bankruptcy law firm in Tulsa, Oklahoma.

Forbes magazine offers some insight into making difficult financial decisions, including the following:

1. Run the Numbers

Cross Bankruptcy Off Your Summer To-Do ListEvaluate the objective facts around your options because they matter and might point you to a clear resolution. Four non-bankruptcy options, according to Experian, could be:

  • Credit counseling: You could get professional help to review your cash flow, help you develop a workable budget, and plan on how to get your finances under control
  • Debt consolidation: If you’re having trouble with money but haven’t missed payments yet and your credit standing is fair to good, moving high-interest debts like credit cards to a single loan with a fixed, affordable monthly payment may be for you
  • Debt management plan: A certified credit counselor could review your finances and come up with a realistic amount you can put toward debt repayment monthly, and negotiate with your creditors to resolve your debts in three to five years
  • Debt settlement or relief: This is the least attractive option. Debt settlement companies will work with you and, unlike a nonprofit that may come up with a debt management plan, will make money from your financial problems. They’ll want you to pay them, not your creditors. Then they’ll try to negotiate with them so they’ll agree to accept less than what you owe. There’s nothing to force a creditor to take the deal, but you’ll be on the hook for the costs

Based on your income, assets, and debts, are any of these options a viable, long-term solution? If so, at what cost? If you do the math, you may find bankruptcy is the more realistic and lasting way out of your situation.

2. Your Preferences, Priorities, and Values

This approach goes beyond the numbers and considers your feelings, hopes, and desires. When facing hard choices, instead of finding rationalizations externally, you could look internally and decide how a course of action reflects who you are and the values you live by.

This doesn’t mean ignoring facts and figures. You should factor those in, along with your:

  • Values
  • Goals
  • Priorities

Stay grounded with what the numbers are, but decide what will bring you the most fulfillment and happiness.

How Bankruptcy Reflects Your Goals and Values

Bankruptcy may be the best route because of what’s important to you, including the following:

  • The bankruptcy process demands honesty and transparency, which everyone should value. Engaging in fraud may not only get your case dismissed but also result in jail time
  • If you have a family, protecting everyone and trying to ensure their brightest future may be highly valued. After some, if not all, of your financial obligations are resolved, saving and preparing for the future should be easier
  • You want certainty and stability, not chaos. Your current financial situation may be chaotic, and you don’t know what will happen next. Bankruptcy makes your life more certain and predictable, which also makes it easier to protect your family’s future financially

Bankruptcy may be the right choice for you, given the facts and your hopes, values, and priorities.

Don’t Put It Off. Moving Forward With Bankruptcy Will Lighten Your Load This Summer

Start with a consultation with a Tulsa bankruptcy lawyer. Call the team of Oklahoma bankruptcy attorneys in Oklahoma at Convenient Bankruptcy Law Firm at 405-296-0079 or contact us online to schedule a talk. You’ll be glad you did.

Back to Blog

Call or email Us today for free case consultation

We are here to help.

    Convenient Bankruptcy

    (405) 639-2099
    10313 Greenbriar Parkway
    Oklahoma City, OK 73159
    Office Hours
    (By appointment)
    Mon - Fri: 8am - 5pm
    Sat - Sun: Closed