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Bankruptcy as a Last Resort

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In this article in the Huffington Post, writer Steve Rhode, calls bankruptcy as a last resort a “fairy tale:”

“In order to avoid bankruptcy, people will sell all their assets and limp along till they hit the wall, broke and without options. They will drain their protected retirement accounts, just to avoid bankruptcy. They will believe the sales pitch of debt relief companies and credit counselors that the widget those companies are selling is better, because bankruptcy should only be the last resort.”

Bankruptcy can sometimes be the least expensive and quickest way to deal with debt and get a fresh start. But, bankruptcy is just one of the options debtors have and it certainly is not a last resort. An experienced bankruptcy lawyer has a variety of tricks up his sleeve and can help you determine the most appropriate solution for your situation, including filing for bankruptcy.

The lesson here is: Don’t wait to get help

The greatest problem bankruptcy lawyers see when advising clients (from Delta Airlines to Fred’s Auto Repair) is that most have waited too long to seek legal counsel. The delay results in a more limited range of treatment plans and options.  Financial distress is a form of cancer: early detection, diagnosis, treatment plans and implementation results in better outcomes. Act now to save yourself a lot of heartache, aggravation, stress and anxiety. With proper planning you can protect your assets and ensure a successful bankruptcy or other outcome.

It is silly to lose everything just because of myths, unfounded fears and/or moral objections. The experts at Cossitt Law can help you make an educated decision about your options. Contact Cossitt Law at (406) 752-5616 to set up a consultation.

Read the full article here: Huffington Post

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