Filing for bankruptcy | Memphis bankruptcy attorneys

Does this story sound familiar?

Lisa was on a roll.  She graduated college with a business degree and only had to borrow around $25,000 worth of student loans, which is hovering right around the national average.

After graduation, she landed a good job with a large company making $45,000 a year, more than enough to comfortably pay back her student loans over a 10 year span.

She also went out and rented a new apartment closer to work and leased a used car only a couple of years old to replace her beat-up car that magically lasted through college.

Lisa had two credit cards she was using wisely and she was saving money on a regular basis.

She was right where she expected to be at this point in her life, and she was happy.

Then, her company downsized and Lisa was let go.

She had enough money saved up to pay her expenses for two months, but as months three and four rolled around and she still couldn’t find a good job, she had to settle for waiting tables at a local restaurant as she continued her humbling job search.

However, the money she was bringing in was not enough to pay all of her bills, or even close, and she got deeper and deeper in debt. With the debt came stress and as the debt piled on, the stress hit harder.

While Lisa is a fictional character, as well as the story, I’ve heard this situation play out in my office as downtrodden clients come in and spill their hearts.  They had it all and now it’s gone, just like that.

Why should the person above file for bankruptcy?  Because the person above deserves a second chance.

Though a bankruptcy tends to be labeled as evil, it’s actually the opposite.  In fact, if used correctly with the right attitude and lifestyle changes, a person filing a bankruptcy can come out in better shape than they went in.

The person above had it all going for them, but an unexpected change happened and she wasn’t ready.

“It’ll kill my credit,” a person against filing bankruptcy may say.

However, in a typical situation, if you’re in a position where bankruptcy is an option, your credit isn’t great in the first place.

If you’re thinking about filing for bankruptcy, please consider connecting with bankruptcy lawyers Memphis, TN trusts as soon as you can.

To even further argue that point, a bankruptcy is your chance to clean your financial slate and start fresh.  This is your opportunity to re-establish and re-build your credit the right way.

At Darrell Castle & Associates, we offer a 14-week program, free to our clients, to help with this.  The program, “7 Steps to 720” will teach you:

  • How to rebuild your credit the right way
  • Why most credit scores are wrong
  • Which credit cards actually hurt your credit score
  • How to stop lenders that report the wrong information
  • How to re-establish your credit after a bankruptcy

So, why file for bankruptcy?  Because with the necessary steps, it can give you a new financial life.

If you’re considering filing for bankruptcy, or if you have any questions, please contact us today, either by filling out the “Get in Touch” form below, or by calling us at (901) 327-2100, and one of our experienced Memphis bankruptcy attorneys will be happy to speak with you, free of charge.