Put Your Family Before Your Debt

            As I have discussed before, when people meet with me to discuss bankruptcy at Halcomb Singler, they often tell me that they are against bankruptcy and want to repay their creditors because they borrowed the money and they should pay it back.  I agree that bankruptcy should be near the end of the list as a means to solve debt problems (but before emptying out your 401k to repay 50% of what you owe).  I often tell those I meet with that we are lucky that 99% of the population looks at bankruptcy as the last option.  If many people in our society continued to run up credit cards and then file a chapter 7 bankruptcy every 8 years not only would credit be much more expensive, but this would be a sign that traditional hoosier values were evaporating.  It is normal to feel shame and guilt about bankruptcy....however, if you have done everything you can to earn more money and have cut back on every expense and you still cannot make your payments you should hold your head up high and realize that sometimes negative situations occur and you need to figure out how to best move forward with your life.

            One heart-breaking example I often hear from potential clients is that they are not taking their medications in order to pay credit card payments.  I am not talking about vitamins here....I am talking about blood pressure meds or insulin.  Medications necessary to control serious health problems.  I have heard stories of what would traditionally be considered a middle class family going to a food pantry because there is no money left to buy groceries after making the car payment, loan payments, credit card payments, etc.  While I encourage people to pay their debts if they are able to do so...I also emphasize that a family must be able to provide for its necessities and should not be forced to put its most basic needs behind paying the bills.

           Another thing hit me this weekend while watching the show "Downsized."  I have talked about this show before, but it is about a family that went from a great income down to next to nothing after the father's construction business closed.  The family of 9 lost their home, a rental property, and a once thriving business when the recession hit.  The show is about how they struggle to adjust to living within their new lower means while raising 7 children.  I encourage you to watch the show.....there are great examples of real life choices that a family must make when dealing with a limited income and large family.  And this week on "Downsized" the family's neighbors had to move out after short selling their home.  Todd Bruce, the father on "Downsized," made it a point to go over to the house and help them move out.  Todd discussed how when he moved out of his house he felt ashamed and felt like he didn't want to talk about his debt issues and eventual bankruptcy with anyone...but that since that time he has come to realize that people need to be able to speak about their financial struggles and should know that they are not alone in losing a house, struggling with finances or filing for bankruptcy in this day and age.

           If you are to the point where you believe it may be necessary to speak with a bankruptcy attorney and you live in Indianapolis, Carmel, Anderson, Tipton, Kokomo, Zionsville, Fishers or Noblesville, Indiana, I am more than happy to listen to your story and answer your questions regarding bankruptcy.  If you would like to meet with me just call Halcomb Singler's Carmel, Indiana office at 317-575-8222.  I try to offer solutions, to help you look forward and not to judge.  There is no fee for this initial consultation.

Halcomb Singler, LLP, is a debt relief agency.  It helps people file for bankruptcy under the bankruptcy code.  No attorney-client relationship with the firm of Halcomb Singler, LLP, is created through this blog. Also, please note that Erika Singler is an attorney licensed in Indiana and does not seek to practice law in any jurisdiction in which they are not properly authorized to do so.  The information contained in this blog is general in nature and should not be relied upon for the circumstances of any individual(s) or businesses.