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Bankruptcy – A Serious Matter
Have you ever noticed that the presidents aren’t smiling on our currency? It’s because money is a serious matter!
Bankruptcy is not the problem, it is a possible solution. It is a difficult solution to decide on but the results are suppose to help you. It will not fix everything, you are in a hole and you need someone to help you dig out. There are many items to consider and you need someone to help guide you. First of all, there is some public misunderstanding about filing.
Some misconceptions about filing for Bankruptcy:
- The Debtor (you potentially) must be flat broke
- You will not be able to qualify for credit in the future
- You will not be able to buy a house in the future
- You will lose your house in a bankruptcy
- Taxes can not be charged during a bankruptcy
- Student loans are never included
- You can pick and choose who gets paid in a bankruptcy
- People who loaned you money without a contract will just lose out
- You signed an agreement stating this debt could not be included in a bankruptcy
- You may lose your job if you file for bankruptcy.
If you haven’t realized it yet, how you handle your money is extremely important!
The choices you make can impact your credit and in turn so many future options you will have or not have. If you are thinking about filing for Bankruptcy be sure you get all the information. You can certainly read until you’re blue in the face on the internet, but until you sit down with an attorney who, through time and experience, knows the in’s and out’s of filing you may not know the whole story.
Get the whole story at New Mexico Financial Law! Let’s work together to get you smiling again about your money!
My father was a brilliant business man.
He taught me three things about business:
1) Keep your shoes shined
2) Keep your car clean and
3) Keep your finances straight
Do these and everything else will fall in line.
You probably think this advice is shallow for business advice. I did, too; but what this advice comes down to is putting effort into caring for the immediate details.
Shine your shoes, or take a shower everyday, shave, get ready for your day like you mean it. Like today you are going to make a difference in the world. Care for your person!
Keep your car clean, or your house, your bike, your office, your work station. Take care of items that may be seen by others. Take pride to care for your surroundings and your possessions. Care for your things!
Keep your finances straight. Your money represents your safety, security and future. Being mindful of your money allows you to pay your bills, support yourself and your family and plan for the future. If your money is straight but you can’t catch up to your bills you will know that you need to make some financial adjustments. Care for your future!
Thankfully, Financial Responsibility is learned, so it can be taught!
Habit 1. Financially responsible people regularly balance their checkbook.
Habit 2. Financially responsible people think first and spend later.
Habit 3. Financially responsible people save money consistently.
Habit 4. Financially responsible people don’t see the monthly payment, but focus instead on the total price tag.
Habit 5. Financially responsible people know precisely their financial condition.
Habit 6. Financially responsible people refuse to live under the fantasy of entitlement.
Habit 7. Financially responsible people’s actions are based upon principles, not feelings.
If you are unsure whether you can recover from your financial hardship read about Bankruptcy and contact a Bankruptcy Attorney for a consultation. It is not to late for you to learn Financial Responsibility!