In this Get Out of Debt Guy Show I talk about why people owe it to themselves to look into bankruptcy and evaluate it as a real option when dealing with problem debt.
Excerpt from the Show
“The best insurance and protection you can have to avoid being scammed by debt relief help is education. The more you investigate and contact people of the different debt relief camps, the more informed and aware you will be so you can make the best decision that’s right for you and your situation.
On your journey to investigate options you should talk to a credit counseling group, a debt settlement company, and a local bankruptcy attorney. Once you do this you’ll be better able to decide what path is right for you.
As part of any examination of options I do always try to strongly suggest that people should speak with a local bankruptcy attorney. While they might want to emotionally avoid bankruptcy, they need to understand what bankruptcy really would do for their specific and particular situation.
Understanding what role bankruptcy might play is critically important since out of all the possible options to dealing with problem debt, bankruptcy is the only one backed up with the power of the law to stop collectors and creditors in their tracks and make the debt go away in just a few months so you can get a second chance and a fresh start.
Here is a wise tidbit of information: You didn’t get in debt overnight, you don’t need to jump at some solution overnight, you’ve got time to investigate your options.
I’ve lived through money problems myself. I know how scary and raw they can feel. I completely understand that you want the situation to get resolved somehow. But in order for you to get the best chance at a great outcome you really need to approach finding a solution as if you are shopping for a car.
Check sites like GetOutOfDebt.org for guides and helpful information, go kick a few tires, learn what real world results are, and take the companies you are considering using for a test drive by calling or visiting them.
And then, feel free to check them out. Make sure they are licensed to operate and research them on the internet. See what other people are saying about them.
Coming up I’m going to give you the most important question you need to ask and answer to best deal with your debt issue.”
Meeting with a local bankruptcy attorney is critical to making the right decision for you and your situation.