Is Fear Holding You Back from Filing for Bankruptcy?

Is Fear Holding You Back from Filing for Bankruptcy?

by | May 29, 2013 | Bankruptcy

People often hold out for a hopeful solution, even while their debt is mounting fast. They cling to other solutions besides bankruptcy- getting a raise, selling their house, and so forth. Why is bankruptcy the “worst case scenario” and something that causes individuals to drag their feet in trepidation?

Why People Avoid Filing for Bankruptcy

Two of the main factors that keep individuals from pursuing bankruptcy are fear and ignorance. People think they will be looked down upon by the rest of the society, they think that filing for bankruptcy is financially irresponsible. According to Walter W. Miller, Jr., a bankruptcy law professor at Boston University School of Law, “There’s always going to be some kind of abuse, but it’s far more likely that people run into very serious personal problems in one of three areas: losing their job, going through a divorce or suffering a serious illness.” Whenever facing a divorce situation, it is always best to seek the counsel of an experienced Marietta family law attorney. When suffering from illness, such as P.O.T.S for instance, you want to make sure that you are receiving the proper treatment in order to keep your health in order.

While bankruptcy is not a step you should take lightly or a step you should take without considering all of the alternatives, if you have found yourself in financial difficulty that you cannot get out of, filing for bankruptcy could be a viable option for you. If you choose to file for bankruptcy, it is important to remember that you can recover from this and that you are not alone. In the year 2011, for example, 1.37 million people filed bankruptcy in the United States. Georgia had one of the highest bankruptcy filing rates in the U.S. in 2011.

To break it down onto a more personal level, in the Northern District of Georgia from January to April 2013, there have been a total of 7,886 Chapter 7 bankruptcies filed and a total of 5,012 Chapter 13 bankruptcies filed. To see more local bankruptcy statistics, you can check out this link on the United States Bankruptcy Court Northern District of Georgia site.

Facing Your Fears

Facing the fear of filing for bankruptcy is one of the hardest aspects of bankruptcy. In the words of one former bankruptcy filer, “In this case, not taking a risk meant staying on the island and watch the water rise. But taking the risk meant dealing with the albatross (although was my livelihood) that was hanging around my neck.”

While filing for bankruptcy tends to have a negative stigma and can conjure up feelings of failure, bankruptcy is actually a chance at debt relief. It provides you with the opportunity to move into a financially brighter future- it’s the darkness before the dawn. If you choose to file for bankruptcy, we will help you maintain your dignity; you should not feel badly about your financial hardship!

If you would like to hear more bankruptcy myths debunked or if you have questions about bankruptcy that you need answered before you can move forward confidently, contact our Marietta bankruptcy firm, Cherney Law Firm, LLC today! Attorney Matthew J. Cherney has represented over 2,000 clients and would be happy to provide you with a free case evaluation. For the skilled legal representation you deserve, contact Cherney Law Firm, LLC at (770) 648-1483 now!

Matthew Cherney


At Cherney Law Firm LLC, clients can expect the highest quality legal representation alongside thoughtful counseling and attention to detail. Mr. Cherney dedicates his time to properly investigating every possible avenue of debt relief for his clients before simply stepping into bankruptcy. Seeking to make each consumer that comes to him for legal aid as comfortable as possible, he keeps his clients in the loop with every step he takes.

Contact US

You may call us directly at 770-485-4141, or you can fill out the form and we will contact you. Feel free to ask us any questions that you might have. Make sure to indicate whether you would like an e-mail or a call back

In Marietta & Cobb County

In Woodstock & Cherokee County

In Alpharetta & Fulton County

Recent Posts