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Does Bankruptcy Impose a Stigma?

Does Bankruptcy Impose a Stigma?

Posted By Westchester County Debt Attorney || 12-Sep-2011

Bankruptcy should be viewed as a legal right where people undergoing financial stress have an outlet to fix their problems. Businesses utilize bankruptcy to better their position and end up being even more profitable. Bankruptcy is a tool and if you can benefit from it, you should utilize it. At least you should know your options. What I tell clients is that the government gave billions of dollars to the banks to bail them out when the economy started to go bad and the housing bubble burst. Today the banks have largely recovered and are experiencing record profits. The government, however, did not do much for the individual. Bankruptcy is the individual's bail out. It can give you a fresh start, wiping out unsecured debt. Even though bankruptcy filings are public, with the sheer numbers being undertaken anonymity is pretty much assured. There is no shame in utilizing the Federal law to deal with the financial burdens that were heaped on all of our shoulders over the last several years stemming from the housing crisis.

When facing a bankruptcy law related matter, you should consult with a legal advocate you know you will be able to trust. At our law firm a Westchester County bankrutpcy lawyer will be able to assist with getting your financial situation back on track. We will be able to take a look at your situation and see if you are eligible for filing for bankruptcy. Contact our law firm and set up a consultation with a member of our staff today.