Drowning in Debt
Are you drowning in debt that threatens your life and livelihood? Facing the loss of your home from foreclosure? No doubt you are feeling scared, angry, ashamed or in denial. These are understandable and common reactions, but will they make the problem worse not better. The New York Times recently posted a series of articles which point out how stress does not have to get you down and provide ways to deal with it, reduce its harm and even use your daily stress to make you stronger. NY Times, 7/30/2017- How to be Better at Stress Contact a New Jersey bankruptcy attorney for assistance handling your debt.
If you are in this situation, this series of articles is a must read. It reinforces the approach we try to take in guiding people through these situations. First, take a deep breath and don’t panic or grasp at “too-good-to-be-true” promises. Secondly, take a good look at what the problem is, and plan. Get professional advice from people who are experienced and whom you think you can trust and who can help you map out alternatives. Consider and accept the worst case outcomes, but plan and hope for the best. Third, talk about the situation, with your spouse, children, family, and legal or financial advisers.
If you are in this situation, it may well not be one of your own creation. Even if it is, learn from what you might have done wrong, accept your own role, then stop obsessing over it. Time to move on.
Likewise, recognize what you may not be able to control (decisions by others to hire you or not, expenses greater than income), and work hard to make things happen that you can control (eg job search, cut back spending where possible). Maintain hope and confidence.
It’s not easy but done right, it achieves results. Most of our clients get back on their feet and move one to financial stability and happiness. The hardest thing is often controlling spending and accepting necessary down-sizing. But being able to afford the basics of living and supporting your family is a great achievement, and cause for celebration.
If you need our help or guidance, our New Jersey bankruptcy attorneys are available to help you map out the choices and options that are right for you.