In many of our Phoenix bankruptcy consultations at Curry, Pearson & Wooten, PLC, we encounter a certain resistance from potential clients when we begin discussing filing for bankruptcy. Many people are under the impression that filing for bankruptcy is accompanied by both a financial and social stigma. This has delayed their desire to explore bankruptcy until the last minute, which often prevents these individuals from the debt relief they so desperately need.
Changing Economic Times Mean Changing Views on Phoenix Area Bankruptcies
In today’s world, the stigma of bankruptcy has slowly worn away. Nearly every person you meet has credit card debt, financed homes and cars, or medical bills weighing on their mind. Few people see filing for bankruptcy in Arizona as “giving up,” they simply understand it as a necessary means to recover from staggering debt. While bankruptcy cases are open to the public, few people bother to investigate these cases. Even if someone was to learn of your bankruptcy, the response would likely be empathetic, as nearly every Arizona resident has been impacted by the current economy.
Many people also worry about the financial stigma of filing for bankruptcy. It is true that your credit score will be impacted, and it will become difficult to secure loans for large purchases for some time. The benefit of this, however, is that accruing debt after a bankruptcy can be very difficult. If approached correctly, bankruptcy can truly become a way to start with a clean financial slate and build a more solid future.
Do Not Let the Fear of Bankruptcy Stigma Prevent You From Seeking Help
Bankruptcy—especially in today’s economy—is not a personal failure. Major life events like a family death, illness or divorce can cause an individual’s financial status to change overnight. Filing for bankruptcy in the Phoenix area can help you start fresh and obtain a better foothold on your finances and debt.
Speak with a qualified Arizona bankruptcy attorney today by calling Curry, Pearson & Wooten, PLC at 602-258-1000 or toll free at 888-929-5292. During your complimentary consultation, we can discuss your options and decide how to best tackle your debt and move forward towards a better financial future.