Perhaps of late you have been debating with yourself whether you want to file bankruptcy. This is not an unusual dilemma. Many Louisianans find themselves, through no fault of their own, in a stranglehold of overwhelming debt. And some of these same people come to realize the advantages that bankruptcy offers.
Perhaps the greatest incentive to filing bankruptcy is that it can give you what is commonly called a fresh financial start. Basically, this means that you have the opportunity to take all you have learned from your previous experiences and apply those lessons toward rebuilding your financial life for the better.
But making things better may take some effort on your behalf, which can include taking a personal inventory about what caused your financial issues. You can begin by asking yourself if you have any specific regrets regarding your previous choices. By being honest with yourself, you may be able to avoid making similar mistakes as you move forward.
But you should not look back with guilt or shame. For whatever reason, things did not work out the way you may have wanted, but such setbacks are a part of life. And beating yourself up over the past will only impede your progress.
Bankruptcy should be viewed as an opportunity to get your life back on track. Your personal preferences and circumstances can help you decide the form of bankruptcy that best suits your situation.
For example, if you choose to file for a Chapter 13 bankruptcy, you will be able to halt foreclosure on your home and prevent creditors from engaging in harassment. You will also be able to set up a sensible payment plan that could guide you out of debt in three to five years.
If you are interested in getting out from under a mountain of debt and desire to begin your financial life anew, you may want to contact a Louisiana bankruptcy attorney. The attorney could go over your options and help set you on a path to being debt-free.