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Filing for bankruptcy can be a positive experience

| Aug 19, 2019 | Bankruptcy Reform

When you are going through financial hardships, almost nothing can feel worse. At the law offices of Kingcade Garcia McMaken, we understand that Florida residents experiencing these problems can feel hopeless and frightened. The thought of filing for bankruptcy may also seem like an undesirable option, only to be considered when nothing else is working.

However, you may find solace in the knowledge that bankruptcy options exist to help you and others in the same situation find relief and future financial success. A young man who felt he had hit rock bottom shared his experiences. He explained to the Huffington Post that he began maxing out credit cards and accruing significant debt while still in college, since his job did not pay enough to support him or offer medical coverage. Like many other Americans, he assumed that his job after graduating would allow him to repay his debts.

Unfortunately, as you and others may already relate, the young man remained drowning in debt and unable to satisfy his creditors after graduation from college. Additionally, he had student loan debt that seemed to him to be staggering, but he later found out his student loan expenses were about average for U.S. graduates. He described the bankruptcy process as busy, yet organized, and he was soon able to qualify for a Chapter 13 bankruptcy.

You may find it reassuring to learn that the man’s eventual opinion of the bankruptcy process was a positive one. He now feels hopeful for the future and able to move on with his life. As our page explains, your bankruptcy options, including Chapter 13, may offer you the same hope.