Maybe not, or perhaps I should say “not necessarily.”
North Carolina attorney Susanne Robicsek has written a nice article that might make people re-think how long they should go without considering a bankruptcy case.
Robicsek thinks the two worst scenarios for debtors are where someone has paid thousands of dollars into a debt-settlement payment program that was doomed to fail and they still have to declare bankruptcy, or where someone works on mortgage modification so long that either they get so far behind even bankruptcy can’t help them or they find out on the eve of foreclosure (or after it occurred) that the modification isn’t going to happen.
The same thing happens here in the Merrimack Valley all the time. Instead of finding out what bankruptcy can offer, people often needlessly avoid it until it is too late. Even worse, basic bankruptcy information, and usually an initial consultation with a lawyer, is almost always free. It is here in my office — all you have to do is call (978)975 – 2608!
By Doug Beaton