Bankruptcy is a very powerful tool. Congress did not mean for you to stay stuck in fear and worry. Congress meant for you to have a fresh start.
Filing of a bankruptcy causes all collection activity to cease.
Today's economy, few people are responsible for the situation they're in because of job loss, reduced hours, medical bills, lack of insurance, and so forth, have put people over the edge really quickly.
There's a sense of being able to breathe again. It's more a chance to reorient yourself, to start over, to make a fresh start.
We do two different types of bankruptcies: Chapter 7 and Chapter 13, and there are benefits and advantages to each of those types of bankruptcies.
One of the key advantages of Chapter 7 is that it's normally a process that's over with in 6 months.
A Chapter 13 bankruptcy, while longer, gives people the advantage of repaying some of their debts over an extended period of time.
I think there's a chance to restart, to begin anew, and to hopefully, move on with a new sense of hope.
Lay down the shame and lay down the burden, lay down the fear, and talk about what really is a realistic option.
People are just doing the best they can. That's all anybody asks of anybody, and Congress understands that. That's all that anybody asks to do: do what you can.