Bankruptcy: Your past doesn’t have to be your future

IN MY work as a Bankruptcy Attorney, I usually have the privilege of meeting all kinds of people from all walks of life.  Some are poor, some are rich.  Some are humble, some are arrogant.  There are those who are in a state of denial, never acknowledging responsibility for anything they have ever done or anything that has ever happened in their life. Then there are those who through experience have realized that life is not perfect, that they have made mistakes along the way, and that now they are ready to put the past behind them and move on.  I often encourage people by telling them that it is not too late to get a fresh financial start and that the law is on their side.  Bankruptcy is not the end of everything you’ve worked hard for.  It is actually protecting everything you’ve worked hard for.  The protection provided by Bankruptcy is similar to the care that a sick person gets while recovering in a hospital.  The goal is to help you back you back on your feet again in the shortest time possible.
Yes, there are lessons to be learned in Bankruptcy. Those who find themselves in serious financial trouble when unexpected events in life occur such as sickness, disability or sudden employment, are immediately reminded of their vulnerability to life’s unpredictability.  Life has its constant unexpected twists and turns, and you can never be sure of where you are going to end up at the next turn.  Therefore, we should always be prepared for the unexpected.  To explain this point in a more practical context, let me ask you this question:  How prepared are you for a sudden and unexpected financial crisis such as loss of employment?  Have you saved enough money to use as an “emergency fund” if you had to survive for a few months without any income?  If you are your family’s “breadwinner”, remember that your loved ones are depending on you and your lack of preparation will cause them to suffer as well.
Now to those whose financial problems are self-caused more than anything else, the lesson to be learned is that it is never too late to change. If you believe you cannot change, you are either already perfect or just plain stubborn.  A lot of people that I counsel openly admit that it was all their fault, that their financial problems would not have gotten worse had they immediately corrected their bad habits or behavior.  I am talking about those people who use credit irresponsibly by spending beyond their means with no regard for the ensuing consequences. I am talking about those who use credit without thinking, making decisions from the heart and not the head. The end result is usually a load of debt that cannot be paid even over a lifetime. There are a lot of people who need to keep a second job just to stay afloat and have enough money for food and rent.  By getting into debt that they can’t afford to pay, these people have sentenced themselves to a lifetime of working for their creditors, never seeing the fruits of their labor.  Before they know it, they’re close to retirement age and they come to realize that they have not saved a penny for retirement.
Regardless of your past, remember that your future can be different.  The lesson to be learned in Bankruptcy on this point is that your past doesn’t have to be your future.  Learn to forgive yourself for your past mistakes and don’t be too hard on yourself.  Successful people are not people who have never failed in life but rather, they are people who have failed usually more than once, learned from their mistakes and moved on to accomplish the goals that they have set for themselves.
If your debt problems have taken control over your life, I want to help you.  Call TOLL-FREE 1-866-477-7772 to schedule an office consultation. We have offices in Glendale, Cerritos, West Covina and Valencia.
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None of the information herein is intended to give legal advice for any specific situation.  Atty. Ray Bulaon has successfully helped over 4,000 clients in getting out of debt. For a free attorney evaluation of your situation, please call  Ray Bulaon Law Offices at  TOLL FREE 1-866-477-7772.