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Personal bankruptcy

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Gary Fraley
Gary Fraley

This document discusses the experience of filing for bankruptcy from the perspective of a bankruptcy attorney. The attorney explains that most clients feel embarrassed to seek bankruptcy, but that financial hardships can happen to anyone. The attorney helps clients understand that filing bankruptcy does not make them a bad person and can help eliminate debt and stress. The attorney also dispels common myths, such as bankruptcy permanently ruining credit - the attorney's clients typically rebuild their credit within 3-5 years. The attorney has seen bankruptcy filing relieve stress in clients' lives and in some cases even save their marriages by reducing overwhelming debt.

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What is filing bankruptcy like for people with money problems?
What is it like to meet with a bankruptcy attorney to learn if filing bankruptcy will help you?
People that come in my law office every day to see if filing bankruptcy will help them. Most are embarrassed to be there. They cannot believe that they would ever end up in my office. I have to explain that almost everyone that comes in feels the same way.
The sad fact is bad things happen to good people. You make choices based on your best guess as to what will happen in the future. Unfortunately. none of us has a crystal ball. (Actually, I do have one but it has yet to tell me anything useful about my future.)
I tell them that their self image should have nothing to do with bankruptcy. Filing bankruptcy does not mean you a bad person, just someone with financial reverses. The average family is one paycheck away from being so far under that they need to consider filing bankruptcy.
Filing bankruptcy, bad credit & your FICO score
People often misunderstand how bankruptcy effects credit. They think it will not ruin their credit for 10 years. They tell me that they have a high FICO score and dont want to file bankruptcy and ruin their credit. I ask them if anyone is willing to extend credit to them now. Inevitably they say no. Then I ask what good is a high FICO score if no one will give you credit?
I ask people whether they can make all their ongoing payments and still cover living expenses. Again the answer is inevitably no. I explain that their credit is going to go down and STAY DOWN if they do nothing. Things will not get better, only worse.
They are going to be harassed to death, sued and abused. This stress has literally killed many people. Filing bankruptcy will remove The stress they are feeling by Getting rid of the abuse and some or all of the debts.
The actual experience for people filing bankruptcy. (It is not what the creditors want you to think it is.)
My clients typical experience is they get rid of the debt and completely rebuild their credit including their FICO scores within 3-5 years after filing bankruptcy.
Even before the bankruptcy process is done, clients are so happy they often send anyone they know who have money problems to see me. I sometimes see tears at the start of the initial consultation. I see tears of relief at the end when they find that there is a solution and a way back for them. I even get free hugs!
I have one client who is Filipino. She brings us trays of lumpia for me and my staff to eat several times a year. Her case was completed 3 years ago. The people who were so scared When they walked in my door to Discuss filing bankruptcy are free of the stress and moving on with Their lives after the bankruptcy is over.
Filing bankruptcy and divorce Some people who come in are afraid that filing bankruptcy will lead to their divorce. I often point out that if filing bankruptcy is going to lead to a divorce than not filing bankruptcy and having all the debts hounding them is to have the same result.
Filing bankruptcy and divorce. The myth and the facts.
Many people who come in my office are on the edge of a of a divorce over money problems. They are arguing and sniping at each other. They point their fingers at each other and play the blame game.
I hear people say that filing bankruptcy will cause their spouse to divorce them. I ask if having all the debts and the stress from that will save their marriage if they dont file bankruptcy? If the debt is what is going to cause the divorce, filing bankruptcy may be the only tool that could actually save the marriage.
Sadly, some marriages are just too broken by the time they walk in my door to save. However, it is truly astounding how many marriages are saved because of filing bankruptcy that would have otherwise ended in divorce.
Once they are no longer overwhelmed, couples of often can deal with and resolve the rest of the other problems. There is a saying you cannot eat an elephant all at once. You eat the elephant one bite at a time.
There is a saying knowledge is power. Isnt it time for you to get your power back?
Im Gary Fraley. I am a Sacramento Bankruptcy Attorney with over 35 years experience helping people just like you. I am a California State Bar Certified Bankruptcy Law Specialist. I have a perfect 10.0 rating by the Avvo.com rating service. Call me now at (916) 485-5444 and schedule your free attorney consultation to see if filing bankruptcy could help you.

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Personal bankruptcy

  • 1. What is filing bankruptcy like for people with money problems?
  • 2. What is it like to meet with a bankruptcy attorney to learn if filing bankruptcy will help you?
  • 3. People that come in my law office every day to see if filing bankruptcy will help them. Most are embarrassed to be there. They cannot believe that they would ever end up in my office. I have to explain that almost everyone that comes in feels the same way.
  • 4. The sad fact is bad things happen to good people. You make choices based on your best guess as to what will happen in the future. Unfortunately. none of us has a crystal ball. (Actually, I do have one but it has yet to tell me anything useful about my future.)
  • 5. I tell them that their self image should have nothing to do with bankruptcy. Filing bankruptcy does not mean you a bad person, just someone with financial reverses. The average family is one paycheck away from being so far under that they need to consider filing bankruptcy.
  • 6. Filing bankruptcy, bad credit & your FICO score
  • 7. People often misunderstand how bankruptcy effects credit. They think it will not ruin their credit for 10 years. They tell me that they have a high FICO score and dont want to file bankruptcy and ruin their credit. I ask them if anyone is willing to extend credit to them now. Inevitably they say no. Then I ask what good is a high FICO score if no one will give you credit?
  • 8. I ask people whether they can make all their ongoing payments and still cover living expenses. Again the answer is inevitably no. I explain that their credit is going to go down and STAY DOWN if they do nothing. Things will not get better, only worse.
  • 9. They are going to be harassed to death, sued and abused. This stress has literally killed many people. Filing bankruptcy will remove The stress they are feeling by Getting rid of the abuse and some or all of the debts.
  • 10. The actual experience for people filing bankruptcy. (It is not what the creditors want you to think it is.)
  • 11. My clients typical experience is they get rid of the debt and completely rebuild their credit including their FICO scores within 3-5 years after filing bankruptcy.
  • 12. Even before the bankruptcy process is done, clients are so happy they often send anyone they know who have money problems to see me. I sometimes see tears at the start of the initial consultation. I see tears of relief at the end when they find that there is a solution and a way back for them. I even get free hugs!
  • 13. I have one client who is Filipino. She brings us trays of lumpia for me and my staff to eat several times a year. Her case was completed 3 years ago. The people who were so scared When they walked in my door to Discuss filing bankruptcy are free of the stress and moving on with Their lives after the bankruptcy is over.
  • 14. Filing bankruptcy and divorce Some people who come in are afraid that filing bankruptcy will lead to their divorce. I often point out that if filing bankruptcy is going to lead to a divorce than not filing bankruptcy and having all the debts hounding them is to have the same result.
  • 15. Filing bankruptcy and divorce. The myth and the facts.
  • 16. Many people who come in my office are on the edge of a of a divorce over money problems. They are arguing and sniping at each other. They point their fingers at each other and play the blame game.
  • 17. I hear people say that filing bankruptcy will cause their spouse to divorce them. I ask if having all the debts and the stress from that will save their marriage if they dont file bankruptcy? If the debt is what is going to cause the divorce, filing bankruptcy may be the only tool that could actually save the marriage.
  • 18. Sadly, some marriages are just too broken by the time they walk in my door to save. However, it is truly astounding how many marriages are saved because of filing bankruptcy that would have otherwise ended in divorce.
  • 19. Once they are no longer overwhelmed, couples of often can deal with and resolve the rest of the other problems. There is a saying you cannot eat an elephant all at once. You eat the elephant one bite at a time.
  • 20. There is a saying knowledge is power. Isnt it time for you to get your power back?
  • 21. Im Gary Fraley. I am a Sacramento Bankruptcy Attorney with over 35 years experience helping people just like you. I am a California State Bar Certified Bankruptcy Law Specialist. I have a perfect 10.0 rating by the Avvo.com rating service. Call me now at (916) 485-5444 and schedule your free attorney consultation to see if filing bankruptcy could help you.