Traditionally bankruptcy has been known as a last resort, but that is no longer good advice. For many people, bankruptcy is a better choice than sinking further and further into debt, exhausting their savings and retirement plans, putting their homes at risk, or dragging their families into their financial mess.
While bankruptcy protection is something that should be sought when other options don’t work, people confuse this by wrongly thinking that seeking help from a bankruptcy lawyer should be their final step. If people go to a consumer bankruptcy lawyer first, any good lawyer will mention non-bankruptcy alternatives that are appropriate for the client. If people start with a lawyer, they may find that the chances that they can repay in full or at least a good portion of their debt in Chapter 13 are high.
Lawyers are free to discuss ALL legal methods including credit counseling debt management plans, settlements and other legal options, which is something that a non-lawyer can not do since the aren’t qualified nor allowed to give legal advice. Furthermore, just talking to a lawyer won’t worsen your situation and may give you insight into how to prevent sinking further into debt.
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