One of the best options to get bankruptcy help is by talking to business groups who lends good amount of money to people on high interest rates, so that one may stay away from declaring bankruptcy. While some bankruptcy attorneys and lawyers may suggest that this is the easiest option, and better than other finance solutions, yet a bankruptcy declaration may crack a bigger hole in your pocket, properties and reputation than ever.

Had I been suggested about the option to get bankruptcy help on time, I would have never taken the route to declaring bankruptcy as I did a few years back.

How I went to bankruptcy

I had taken a lot of debts while I built my house, and at that time, I was pretty sure about repaying back all the debts, as I had a good source of income from my job. But then I had some problem in my office, which made me quit the job, and I sadly didn’t get a good job after that to meet up my standard of living, the monthly expenses, and pay the house building loan installments.

Eventually I became too poor to go for liquidation of my assets, and at that time an acquaintance suggested me declaration of bankruptcy to avoid warnings from my creditors.
How I lost my reputation because of the wrong measure

I wish I never listened to that person. That’s because, not only did I lose my house, but my reputation in the market too. I realized this while I was trying to get a loan for a business after a few years, and I was told that I would be charged heavy interest rates to get the loan. The rates offered were surely too big for me to bear, and made me go from one financer to another.

Finally I realized how declaring a bankruptcy should be avoided till the last minute as it eats up your reputation as a reliable debtor, and why you should get a bankruptcy help on time.

We were a happy family, and were doing good with the income that husband Peter drew from his job. Things were rolling perfectly and I being a homemaker was content with my life. Being a middle class family we were into small and big debts to the banks for house, car and a few things, but always paid our installments on time.

Peter one day lost his job

Suddenly one day my husband’s workplace got shut down due to some legal issue, and he lost his job. We knew a job is a must or else we won’t be able to survive on our savings only, when we had to pay the monthly installments for the loans etc.

Naturally Peter was looking for a new job, and I started doing all sorts of things possible by me from home to help with the daily expenses. We were surviving on our savings, and were praying each day that Peter gets a good job. However Peter fell ill badly. He was actually quiet traumatized with the little available jobs and his desperation, and thus could not bear with the emotional upheavals.

We were losing our savings

With monthly debt clearances and treatment of Peter, our constantly diminishing savings struck the rock bottom and we were only left with jewelry and household stuff to pawn or sell, so that we could pay those debts which once didn’t matter much to us with regular income.
We decided to declare bankruptcy. But then my uncle came as the bankruptcy help and told us that declaring bankruptcy should be the last step to take, and before that we must see what other ways are left for survival and debt clearance. He even said that if we need to sell the car or the house, then also its ok, as we will be able to recover the losses. But bankruptcy would be a bad stamp on our reputation and credit score, which would not let us get loans or other financial grants for a long time in standard interest rates, and will spoil our credit score forever.

You can always save yourself from declaring bankruptcy by getting bankruptcy help on time. I learned it the hard way though. I was doing my studies, and had taken a student loan to suffice the college fees, because my family was not very well to do to help me go through the studies without extra financial aids.

My problems grew

Just a few months prior to my final degree exams, I found that my family was going through real tough times, and they needed money like anything. My siblings were sick, and needed medical help, and my mom and dad had no other source of income other than the meager income of my dad from the small job.

For humanity’s sake I had to offer to my family all I had left with me of the student loan. They were overwhelmed to get that support from me, as every pie counted big for them. But, I was at real problem about how I was going to repay back the debt to the bank. I decided to declare bankruptcy, so that my loan does not end up bringing me to the court.

I got help from my uncle

It was at that time, that my father’s friend met me one day, and while we talked, I found out that he was a successful finance lawyer. He showed me the right way, and told me that as a student I will not get any help from declaring bankruptcy. The actual bankruptcy help that I could get was by never declaring bankruptcy as a student, and rather trying to find some other source of income to get out of the situating. As my final exams were nearing by, I decide to study for the initial months, and after the exams I started doing a job. This saved my credit score, and my name on time, as I only became a loan defaulter for the few months prior to exams, and the rest was solved out.

Getting bankruptcy help at times of great crises is like getting the grace of god when you need it the most. Victims are those people of poor finance and economic conditions who they are compelled to declare bankruptcy. But it should be the last action you take to get rid of creditors and old debts. If you see the comparison between your state in terms of credit score, reputation etc as a loan defaulter and as a bankrupt person, then you will see that you are at much great dangers of financial crises while you are bankrupt

Why it’s not wise to get bankrupt.

It’s because, you will lose your credibility as a good debtor in the market, and no good financial organization or bank would show interest in doing business with you, lending you money etc. therefore, even if you want to get back to a normal or better life after a bankruptcy, the path will be a tough one. You will have to arrange for all the finances yourself, as most probably you would have lost all valuables to the creditors and court in auctions etc after declaring bankruptcy.

You should compare the pros and cons

Its good to consider all the pros and cons of declaring a bankruptcy, and then decide. In case you need urgent loans or urgent bankruptcy help, there are always financers and organizations for this kind of help and grants.

While we were working together happily in our business, Joe constantly did spend huge amounts in poker, gambling and all other stuff that never gave him back, but only made him spend more in craving for more.

Our story of going bankrupt in short

I am talking of Joe my business partner and long time friend, and I am Shelly. We had been friends, and then became business partners. We were making huge profits from the business, enough to support the spoilt Joe. But things never remain the same always, and with growing competition and tough times, we started losing our customers, the business and the money.
However bad habits never leave you till you die and same was the case with Joe. He never withheld his gambling tendencies even in the tough times, and instead of focusing on the ways to make the business better and compete with the rivals, he constantly indulged in the wrong investments that eventually led us to bankruptcy. Never did he help me in finance after he started spoiling himself, and never did he arrange for some form of debt help.

How we got bankruptcy help

Finally when we needed bankruptcy help, and were looking for bankruptcy attorneys to help us out, a friend who was friend indeed actually helped. We found the real bankruptcy help from Martha- another friend of ours, who had been studying finances and giving professional money saving tips to people.

Martha told us never to declare bankruptcy, as this will cost us badly in future, when we will be trying to raise money from the market again to mend the lost business. She told us to look for other finance options like payday loans and debt management options, and told us to seek help of help groups who provides bankruptcy help to people in real problem, by telling them ways to avoid a bankruptcy declaration.

We then talked to a few people who were experts in handling finances, and over the internet we also talked to other people on forums who went through similar problems in past. Then we made a list of actions we could probably take to save us from a bankruptcy declaration, and the first step was abolishing Joe’s bad habits of making wrong investments and spendings. Then we found out lots of finance options offered by some debt management groups, and saw the light of growing funds once again. After tight budgeting and some good planning, we found our way out of the tight situation, and now once again we are back to business and competing with our rivals in full swing.