Losing everything can be a painful and yet very revealing experience. Undergoing bankruptcy is one of the hardest things anyone can go through. And yet hardships such as bankruptcy can reveal who you really are as a person. It tests your mental fortitude and self worth. Creditors calling day in and day out or the thought of having your own home taken away can become too much for most people to bear.
If you’ve lost your job as well as your savings, and if you can barely scrape money to pay for your mortgage then filing for bankruptcy may be the answer. It’s not easy to admit you are bankrupt but in cases such as this, it’s what is practical.
Now the question is how does one file for bankruptcy? It’s not as complicated and expensive as we think. You can get free bankruptcy help if you just know where to look. Yes, lawyers can be expensive but there are ways to get free legal help. You can always go to pro bono lawyers to seek legal aid. The American Bar Association urges attorneys to give at least 50 hours of free legal counsel per year.
So if you want to file for bankruptcy you just have to go to one of these lawyers and explain your situation. Then you can inquire if he can make time for your case. If the lawyer says no, don’t give up! Your next step should then be to ask for a referral to other lawyers who might be able to help you.
There are also associations within the different states of America that give free legal counsel to people who can ill afford to pay for expensive lawyers. These associations usually have a variety of pro bono programs. Its only a question of diligence. Since you don’t have the money to pay for a lawyer, you can more than make up for it in terms of effort. Sooner or later you will be able to find someone who can help you file for bankruptcy.
However, in case you really are not able to find free assistance you still have a lot of options to choose from. You could look into payment plans. Ask your lawyer if he would agree to an installment payment. Instead of paying the full fee at one time you could break it down and pay monthly – with interest of course. This will enable you to hire a lawyer without having to pay upfront.
You could also borrow from relatives or a close family friend. You may not want to incur more debt by borrowing even more money but in filing for bankruptcy, you will need a good lawyer. And a good lawyer has fees that need to be paid. So a close friend may be able to let you borrow the money you need to make a fresh start.
Being broke does not mean that your life is over. It just means that you have the opportunity to grow and become stronger as a person. Once your bankruptcy is discharged you will start getting credit card offers with very low limits and very high interest rates. Unsecured credit cards after bankruptcy are a great way to get your credit back on track. After all the difference between being poor and being broke is that broke is temporary while poor is eternal.