Filing Bankruptcy Is About Making Tough Choices

28 Jan Filing Bankruptcy Is About Making Tough Choices

Every new year comes with a renewed sense opportunity. People see a new year as the right time to “get it right” or “start over”. Whatever words motivate you are great, and I’m all for a motivational quote as a trigger to keep me on the right track. This is why people make new year resolutions. In one way or another we have all made a new year resolution.

Sometimes these resolutions work and people create real change in their lives. 2013 Sticky NotesOther times, people fall into their comfortable life patterns and the resolutions are quickly forgotten. I’ve always said that it’s not about making the right choice, it’s about seeing the other side of the choice. I am choosing this, but in return for my choice I am giving up that, that, that and that. You may be scratching your head right now, and that’s ok.

Well, the decision to file bankruptcy requires that you make other choices as well. Filing for bankruptcy is about making the tough choices, but those choices are probably not the ones that are popping into your head. My guess is that you are thinking about debt. You may be thinking that the house is underwater and the car payment is due. But, if you really think about it, financial choices are the exact same as all of the other choices you have made in your life. The person who chooses law school will be choosing not to become a politician. The teacher is choosing not to become a firefighter or policeman. In other words, all of your past decisions have forced you to forgo opportunities elsewhere. I want you to see the decision about filing bankruptcy is not about what you are missing out on, but will be about what you are strategically giving up. Maybe you have never thought about it this way, but it’s true. I remember when this idea first hit me. When it was time for me to buy a car, I had another decision. Do I get a Jeep, Pick-up, or a car? Once a choice was made, I was also choosing not to purchase the other types of vehicles.

Why is this important? Well, I’m glad you ask. I see people struggle every day with the decision of whether to file for bankruptcy protection. In my mind, the decision should not be that difficult in many of my client’s situations because I know how a bankruptcy can change their lives for the better. However, it is not my decision to make. In my position, I know how bankruptcy works and the opportunities it creates for the individuals. I also know that it is a strategic financial decision that must not be taken lightly.

On the other hand, I know that the decision to file for bankruptcy will cause individuals to make other choices, like learning to live on cash, learning to save money, learning to budget, learning to borrow from yourself, and learning about personal finance. Learning, or I guess I should say re-learning these skills will help create a simpler and happier life. In the end, most people realize that their decision to file for bankruptcy is not about what they are going to lose, it is all about what they are going to gain. That is where I want you to focus your thoughts when and if you are having a hard time with the idea of filing for bankruptcy. Think about where you want to be and how you are going to get there. This process will make the tough choices seem a little easier. Change your Perspective – Change your Life.

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Carmen Dellutri is a proud member of the Florida Bar, and he is a Board Certified Consumer Bankruptcy Attorney, Certified by the American Board of Certification. He practices in the areas of Consumer Bankruptcy and Plaintiff's Personal Injury. He is the principal attorney at The Dellutri Law Group, P.A. The firm supports many charitable and civic causes by donating time and much needed capital to our community. Mr. Dellutri and the other attorneys in the firm routinely speak to students of all ages about various legal and societal issues.
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