Mounting bills can put stress on any family's budget, but when there isn't enough income coming in to pay off those debts, late bill payments are inevitable. If you find yourself facing insurmountable debt and bankruptcy appears to be your only option, contact an experienced bankruptcy attorney to discuss your options.
Filing Bankruptcy in Indianapolis
The Law Office of Colby J. Leonard in Indianapolis, Indiana, offers a free initial consultation to explain the full range of debt relief options that are available to you. Attorney Colby J. Leonard does more than provide legal services. He also takes the time to help you understand your options.
If you are facing debt problems, don't let a lawyer steer you into a solution until you understand what you are getting into.
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Filing bankruptcy is the solution to some debt problems but not others. Using bankruptcy to get rid of tax debt, for example, may be overkill when you can accomplish the same end by negotiating an offer in compromise with the IRS.
As a lawyer who practices in the areas of bankruptcy, consumer and business law, Colby Leonard spends a great deal of time counseling his clients about bankruptcy and nonbankruptcy solutions to debt problems. For example, you may be able to negotiate a settlement of your debt with your creditors without filing bankruptcy.
Surviving the Emotional Effects of Bankruptcy
No matter what circumstances ultimately led to filing bankruptcy, both the practical and the emotional impact on the debtor will be enormous. Confronting the emotional and psychological issues surrounding bankruptcy and reaching an understanding and acceptance of the situation are essential to rebuilding and maintaining a successful financial life. The experienced bankruptcy attorneys at The Law Office of Colby J. Leonard, LLC in Indianapolis, Indiana, can guide a debtor through the complicated legal, financial and emotional maze of bankruptcy and steer him or her in the right direction for the future.
Filing bankruptcy can, without a doubt, stir up many negative emotions. The debtor's sense of self-worth is often closely tied to his or her financial circumstances. Loss of money can be experienced as a loss of identity, self-esteem and confidence. We live in a society in which image is seemingly bought through possessions. Money can be viewed as a powerful currency not only in a purely economic sense, but also in relationships and thus a real or perceived loss of interpersonal power can ensue when bankruptcy is filed.
Understanding these emotions can help disentangle the practical realities of money from the possibly destructive or limiting emotional response to bankruptcy.
At times of significant loss, people tend to feel that their entire foundation has been shaken and that their most fundamental sense of security has been disrupted. They question their trust in themselves, in others and in the world at large. Although it may be natural for many to bury these frightening emotions, bringing core insecurities to a conscious level can actually reduce fear and the feeling of being out-of-control, which enables individuals to start tackling their situations constructively. In addition, the counsel of a seasoned bankruptcy attorney at The Law Office of Colby J. Leonard, LLC in Indianapolis, Indiana, can see a debtor through the tough times and guide him or her to a brighter financial future.
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