I have consulted with hundreds of clients over the years who are seeking debt relief. I hear a lot of tales of desperation: People who have gotten in over their heads in debt. People who have tried to pay what they owe but who just can't make any headway, maybe because they've lost their jobs, or maybe because they've gotten sick or went through a divorce.
When I talk to these people, there are two things I hear time and time again: "I tried to do the right thing" and "I never thought I would be here."
Doing the right thing...
By "do the right thing" my clients mean that they have been trying to pay their bills but they just haven't been able to catch up.
Many of my clients have talked to their creditors - or in more recent years, the collection agents that call constantly - and have tried to work out payments they can afford. But these offers of payment are often rejected.
I don't blame the credit card companies for some of these rejections. Sometimes, the amounts are too low and would not cover the continued expense of managing the account. It's often better financially for the company to charge off the debt or file a lawsuit.
But many times, these offers made to the creditors really are the best that many of my clients can afford. They are trying to "do the right thing" by offering to pay what they can.
Times are tough, now more than ever for some people. When these attempts to pay what they can do not work, and when they find themselves continuing to struggle to get by while being hounded by collection calls, many just want to give up.
Some do. But others realize that they need to do something about it. So they do: They call a bankruptcy attorney.
I never thought I would be here...
When I first meet with clients, they often tell me, "I never thought I would be here." What they mean, of course, is that they never thought they would be sitting with me, a bankrup
tcy attorney, looking at whether bankruptcy is a good option to deal with their debts. Most of these clients never thought they would find themselves in a position where they could not handle their debts.
I joke with my clients and tell them, "People want to come and see me about as much as they want to see the dentist." The truth is they probably want to see me even less than they want to see the dentist.
Sadly, there have been many times that I have met with people who have burned through all of their retirement funds trying to pay back their credit cards or other debts. Had they filed for bankruptcy, many of these people would have been able to wipe out those debts and protect their retirement in the process.
Many more clients have taken similar steps by draining their savings or selling their assets to pay back debts in their efforts to "do the right thing," and I think to myself, "I could have saved them money, time, and stress if only they had come to me sooner." However, we work together to focus on what we can do now and for the future.
Even though many of my clients never thought they would be meeting with a bankruptcy lawyer, overwhelmingly, many tell me that they feel such a sense of relief just knowing that they have taken that first step in handling their debts. Many have told me that they feel a huge weight has been lifted.
One of the most rewarding aspects of my job is hearing my clients tell me about the relief they feel when their case is done and they can move forward without those heavy financial burdens they were struggling with when we first met.
If you are struggling with debts, call the Law Offices of James Scott Farrin at 1-866-900-7078 to set up a free consultation and find out if bankruptcy might be the debt solution you need.