We often sail through life being totally unaware of the kind of debt that is following us around. This 'head in the sand' approach is what catches people unawares and it is what crushes them when everything is taken away from them. In these days of economic gloom, the only way out of debt is to be absolutely honest about the situation and get the help of a bankruptcy lawyer if needs be. A Texas bankruptcy attorney will have all the skills to try to save at least something for the debtor, but only if he is consulted early on in the problem.
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Most people are unaware of the situation until creditors start to harass them. Paying the minimum amount on credit card bills, or living well beyond their means, are just two ways to make sure that everything will be lost one day. Indeed, even those breadwinners who have lost their jobs sometimes hide this fact from their families simply to save face.
However, families can only help if they know about the situation. It is really unfair to let the family carry on with bad spending habits when there is a crisis and this often sends people into nervous breakdowns since they will be fighting the problem alone.
For example, promising the family that wonderful and exotic holiday every year may be what is expected, but if all this has to go onto a new credit card when the other cards are being practically ignored is really not on. People can live without a holiday for sure, but can they live without a roof over their heads?
Even the daily coffee and croissant on the way to work is an expense that could be trimmed when finances start to pinch a little. Indeed, if people just wrote down what they are frittering away on a daily basis, they would be shocked to find that this could probably pay off one credit card debt completely.
If all else fails and the creditors come knocking, this is the time to find the right expert to guide the debtor through the mess and out the other side. Indeed, being honest here is the key to survival and, though it may be embarrassing to say the least, it is the only way to ensure that something like a home is not lost completely.
The expert will certainly have seen most situations before and will be able to advise fully on what the best course of action is. Filing for Chapters 7 or 13 is open to most people as long as they are willing to show what they owe and to whom.
Of course, the means test that is applied here is not the best for sure, but it does show the family and the court where trimming can take place. As a reward, the court can stop creditors from harassing the debtor from that moment on and this is often enough to let the debtor get back on his feet and into the game again.
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