What To Expect When Filing Bankruptcy

Like most of life’s big decisions, the thought of filing for bankruptcy can be scary, overwhelming, emotional, confusing or a combination of all of these.  It can also ignite thoughts of hope and determination – for your family’s future, financial peace,and the lifting of an enormous burden.

More than anything this unknown step can be just that:  unknown.  New potential bankruptcy clients always want to know how life will change after bankruptcy. “Is this the right thing for me?”  “Will it help me move forward in my life?”  “How will this affect my family?” “Will I ever recover financially?” “Will I be glad I did this?”  “Can you help me figure this out?”

Fortunately, even in the absence of crystal balls, tea leaves, and tarot cards, we do have something to rely on:  consistent feedback from our clients, and data.  As a bankruptcy attorney I can tell you what I have seen, how my past clients have fared, how the process should work for you – but data is more concrete, so we decided to gather it and share it.  Also, we were curious how our clients are doing post-bankruptcy.

Our team has represented small business owners, individuals and families filing for bankruptcy for over a decade, so when we wanted information to share, we went back to them. Our team compiled a survey to send to a list of 300 previous clients who have completed a Chapter 7 or Chapter 13 bankruptcy within the past 10 years.  The survey covered questions such as “Has the quality of your life improved because of your bankruptcy?” “Do you wish you had filed for bankruptcy earlier than you did?” and “Did your bankruptcy negatively impact your career?”

From our clients’ responses, we were able to gather substantial information that we believe will be valuable to those considering bankruptcy. We will share it in several posts on our blog, so please stay tuned as we share our findings in the coming weeks.

We are a debt relief agency helping people file for bankruptcy relief under the United States Bankruptcy Code. 

Disclaimer: We are attorneys, but we are not your attorneys and this article does not create an attorney-client relationship. The information in this blog post is provided for general information purposes only, and may not reflect the current law in your jurisdiction. No information in this blog post should be construed or seen as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter.