What You Should Know About Access, Fairness, and Financial Recovery
If you’ve ever considered filing for personal bankruptcy, you may wonder if it’s a difficult process. At our Memphis bankruptcy firm, we make the process as simple as possible, but people still come in expecting the worst. So it’s fair to ask: Should it be easier to file for personal bankruptcy?
As a bankruptcy lawyer, I’ve helped thousands of people through this process day in and day out. If you’re working with a great lawyer, bankruptcy will go much more smoothly for you. But for some people who are desperate for help, the system still makes it hard.
Let’s talk about why that is, and whether it’s time for a change.
Bankruptcy Is a Safety Net… with Some Barriers
Bankruptcy exists to give people a second chance. It’s supposed to be a legal way to wipe out overwhelming debt and start fresh. But right now, there are some barriers standing in the way.
My job as a bankruptcy lawyer is to walk you through each step, explain your options in plain language, and make the process as smooth and stress-free as possible.
And to that end, these are some things we often discuss during your free consultation:
The Means Test
To qualify for Chapter 7, which clears most unsecured debt, you have to pass an income test called the means test. For some people who desperately want Chapter 7, it can feel like this test makes it too difficult to file. Some people have called for it to be changed so more people who want the benefits of Chapter 7 can access it.
That said, if you don’t qualify for Chapter 7, you may qualify for Chapter 13. This type of bankruptcy creates a payment plan based on your unique situation, so it’s affordable to you. It also stops foreclosure and car repossession, and it’s a top choice for some people depending on their priorities.
The Cost of Filing
Believe it or not, filing for bankruptcy costs money, including legal fees and court costs. That can feel like a huge hurdle when you’re already struggling to pay rent or buy groceries.
Many people find that filing actually saves them money in the long run by wiping out thousands in debt. But it does cost money to get to that point, and that can come as a surprise to a lot of people who need it.
Student Loans Are (Mostly) Off-Limits
Student debt is one of the biggest sources of debt and a leading driver of bankruptcy. And tragically for so many, it can’t be discharged in most cases.
That means even bankruptcy won’t help with one of the most crushing types of debt we have.
There are some exceptions, but they come with an extremely high legal standard. But in general, we have to build your bankruptcy around your student loan debt.
To make it the most beneficial to you, we always focus on freeing up your finances as much as possible so the student loan debt doesn’t feel as overwhelming moving forward.
The Stigma
On top of everything else, many people still feel ashamed about the idea of filing. They think it means they’ve failed, and they worry about whether people will find out.
The truth is, the system has failed them. And it should offer more support, not more shame.
Who Gets Hurt the Most?
The current system tends to punish people who are already vulnerable: low-income workers, single parents, the elderly, people with student loan debt, and people who’ve already lost their jobs, cars, or homes through no fault of their own.
These are the people who need relief the most, but who often struggle to access it.
When people believe bankruptcy is too hard to file, they can’t always just “tough it out.” They live with constant stress, delay medical care, drain their retirement savings, and fall deeper into debt.
Some even turn to risky payday loans or predatory lenders, which only make things worse.
What Would Make It Easier and Fairer?
There’s a growing conversation about reforming the system to make personal bankruptcy more accessible. Here are a few ideas being discussed:
- Simplifying the Means Test so it doesn’t block people from getting the relief they truly need.
- Allowing student loans to be discharged more easily, especially for borrowers who will never realistically be able to repay.
- Reducing the cost of filing, possibly through fee waivers or public legal support.
- Ending the stigma – which is easier said than done.
At our firm, we also focus on making bankruptcy accessible. We offer a free consultation, no strings attached. And we start the conversation by focusing on you and your ultimate goals.
So, Should Bankruptcy Be Easier to File?
If you’re drowning in debt and can’t find a way out, you deserve a process that supports you, not one that makes you jump through hoops just to get relief.
Bankruptcy is about getting a fresh start. And right now, the system could do a much better job of helping you do that.
Fortunately, a good lawyer can make a world of difference.
The Decision May Be Difficult, But We Make the Process Easy
If you’re considering bankruptcy but feel overwhelmed by the process, I’m here to help. I’ll walk you through your options, answer your questions, and make sure you’re treated with dignity and respect every step of the way.
Bankruptcy exists for a reason: to give people a chance to reset, rebuild, and move forward. And when handled correctly, it works. When you file with the right guidance, bankruptcy can stop wage garnishments, end creditor harassment, wipe out overwhelming debt, and even help you keep your home or car.
We focus on our clients’ goals and help set you up for success after the bankruptcy, too. And we never charge extra or hidden fees.
To get started, we offer a free consultation, no strings attached, where we can answer your questions and help you make the right choice without pressure.
Filing for bankruptcy should be simpler, fairer, and more accessible. Until it is, I’ll be here to guide you through it. Reach out today, and let’s talk about how to move forward.