If you have sufficient assets and you are capable at your income and household size, to avoid bankruptcy, then bankruptcy avoidance is your best option. My firm helps people in filing bankruptcy. But there is a very personal side to bankruptcy and financial recovery that is involved in the decision-making process. And we understand that at The Fink Law Firm, LLC. We want to give you the tools to succeed whether your best option is filing bankruptcy and then moving forward, or avoiding bankruptcy altogether and putting the tools in place to get out of debt and save money for you and your family's future.
Baby Steps is Dave Ramsey's Plan
Take a look at Dave Ramsey's "The 7 Baby Steps". If you are capable of completing this plan, then bankruptcy is not the best option for you.
The Fink Law Firm, LLC represents people in a variety of legal matters, including divorce and bankruptcy. Whether you are going through a divorce, in financial trouble, considering filing bankruptcy or planning to avoid bankruptcy, or just doing some personal finance, the first step is always the same. INVENTORY. You have to know what you own (assets) and what you owe (debts).
The second step is Budgeting. You need to know how much you earn and how much you spend. This is common sense that is not that common. Only about one in three Americans prepare a budget. That's just 33%. If you want to be free of debt, then start by preparing a Budget.
Financial Planning for your Future
Whether it's setting aside for an emergency, paying off debt, or getting a reliable vehicle for you and your family, you have to prepare and save for the future.
Do you need to hire a Lawyer
Hiring a bankruptcy lawyer can help you keep valuable property, work with your creditors, and stop creditors from harassing you. But you may not need to hire a lawyer. You may be able to negotiate a plan with your creditors that you can live with. But be very very careful. Get everything in writing before you put any money down when dealing with creditors. What is spoken over the phone is rarely remembered by creditors, and in most cases, is unenforceable by you. Lawyers may be expensive, but the lawyer fee is likely far less than the cost of not having a lawyer. In short, just be careful with who you are dealing with and get it in WRITING.