BANKRUPTCY is not a four-letter word. DEBT is.
Why do people believe they should avoid bankruptcy at all costs? Stigma. Guilt. Fear. These negative emotions are perpetuated by the mortgage banks, credit card companies and insurance companies who stand to lose when one of their customers (or should we say victims?) files for personal bankruptcy. They are perpetuated by bank-controlled consumer credit counseling agencies who refuse to mention the word bankruptcy. This is because bankruptcy is your most powerful weapon in debt relief.
Put the stigma where it belongs
Bankruptcy in America is becoming a very common situation. Why? Because for many years banks and credit card companies have engaged in predatory lending practices to generate fees and bonuses for themselves without regard to whether the debtor can repay. They extend credit through one-sided contracts with no provisions for real life situations such as job loss, divorce or family illness. When their customers experience these often devastating situations the banks actually make more money by charging late fees and raising interest rates! When payments are missed they deny loan modifications and start the foreclosure and repossession process. When illness strikes and medical bills pile up they deny claims and cancel insurance policies. And yet the stigma rests on you? What is wrong with that picture?
Your legal right to a level playing field
Bankruptcy protects debtors in these situations by leveling the playing field. Without the legal remedy of bankruptcy, people in financial distress would have no real options and banks, credit card companies and insurers would have them over a barrel.
Bankruptcy dates back to the Ancient Romans and the time of Caesar, and has been part of America’s legal system from the beginning. In fact, Section 8 of the U.S. Constitution specifically empowers Congress to enact bankruptcy laws throughout the U.S.
Additionally, bankruptcy is actually good for the economy. By allowing people to wipe the slate clean of unmanageable debt, they can come out the other side stronger, smarter and better able to contribute and succeed.
You are in good company
There is no shortage of prominent people in history who have filed for bankruptcy. For example, former Presidents of the United States Abraham Lincoln, Henry Truman and Thomas Jefferson all filed for bankruptcy. Additionally, American icons such as Milton Hershey, Henry Ford, and Mark Twain also filed for bankruptcy. In each case, these highly successful people filed for bankruptcy prior to their greatest achievements. If the legal right of bankruptcy not been available to these great Americans we might not even know their names today. Bankruptcy allowed them to learn from their mistakes and go on to contribute great ideas, inventions and experiences to our country.
If you are experiencing financial distress, you are NOT alone
Over the past 30 years, the average American’s debt has doubled as a percentage of their income while their wages have declined. Savings have fallen to record low levels. Americans are experiencing rising unemployment, skyrocketing rising healthcare costs, and plummeting home values.
At Wink & Wink, P.C. we believe bankruptcy is a necessary component of economic recovery in the United States because bankruptcy will help Americans wipe out the debt that is choking our economy and give our country the fresh start it needs.
Do not wait. Begin your journey to a fresh start today. Contact Wink & Wink for a free lawyer consultation.
We are a debt relief agency. We help people file for relief under the bankruptcy code.
We provide our services throughout the State of Colorado, including Denver Tech Center (DTC), Denver County, Adams County, Douglas County, Jefferson County, Arapahoe County, Boulder County, Weld County, Elbert County, including the cities of Aurora, Lakewood, Littleton, Englewood, Highlands Ranch, Centennial, Arvada, Golden, Westminster, Commerce City, Boulder, Broomfield, Lafayette, Castle Rock, Cherry Creek, Thornton, and Longmont.