Bankruptcy Story: The Man Who Got Out of Debt

With Halloween coming up, we find everyone getting in the scary spirit. However, at our Las Vegas bankruptcy law firm, we do not have an interest in scaring people. Instead, our bankruptcy attorneys enjoy making people happy and getting them out of stressful situations.

The Man Who Declared Bankruptcy and Got out of Debt

For example, there once was man who lived in Las Vegas, Nevada. He was a nice man. He was a widower, had four daughters, worked full-time, responsible with credit and had a little money in the bank. While he didn’t live an extravagant lifestyle, he was content.

The neighbors may have thought the man next door was happy, but what they didn’t know was that the man declared Chapter 13 bankruptcy almost four years ago.

You see, the man suffered an unfortunate accident at work. While it wasn’t his fault, he needed multiple surgeries to recover, which put him out of work. During the tough time, he provided for his daughters using his credit cards. After a few months, he realized he was way over his head financially and needed assistance. That’s when he made the tough decision to declare bankruptcy in Las Vegas.

While his bankruptcy wouldn’t be discharged for another year, the man was living a much happier life than ever before. For instance:

He rebuilt his credit

Before, the man’s credit was bad and only getting worse. With all this crushing medical and credit card bills, the man found he had to make tough survival decisions. These decisions ranged from either buying groceries for his family to eat and be late on the house payment again, or pay the house payment and have his family suffer.

After declaring bankruptcy, the man was able to pay his trustee, who was able to keep his car and house, and buy the necessities for his family. He was so dutiful that he was even able to open a savings account again. While his credit is not outstanding, after a few years, he can actually foresee helping his eldest daughter through college.

He sleeps at night

Before declaring bankruptcy, the man suffered from insomnia. He couldn’t sleep, worried that at some point the repo man would come for his car or house.

Because he couldn’t sleep at night, his work and family life began to suffer. He was so overwhelmed that while he was unable to provide for his girls. His parents and brother started taking care of his girls. His boss, who was unaware of his personal problem, warned him if he didn’t get his act together, he would have to terminate his employment.

After declaring bankruptcy, the man still worried about his family, but he was able to sleep at knowing his bankruptcy attorney in Las Vegas, Nevada, was taking care of the issue.  

His family wasn’t harassed by bill collectors

Every day and night, the man’s phone would ring off the hook. Each call wasn’t made by the man’s extended family as the kids thought. Each call was made by a bill collector. Every call bill collectors threatened the man, stating that if he didn’t pay up, they would put a lien on his house, repossess his car, or shut off the utilities.

After he declared bankruptcy, never again was the man and his family harassed by a bill collector. Under bankruptcy law, bill collectors are forbidden to talk directly with the debtor. Instead, they had to deal with his bankruptcy trustee who kept the man and his family safe.

He planned a vacation

The man never imagined that after declaring bankruptcy would he and his family ever go on vacation again. While his bankruptcy trustee told him that he did have a recreational budget, he used that money to pay off his bills.

Now after five long years, he was able to see that a rich, fulfilling life after debt is possible. He and his daughters may not have every luxury in the world, but the future for them is bright.

Need a Bankruptcy Lawyer in Las Vegas, Nevada?

This may shock you, but this story isn’t real. However, we wouldn’t be surprised if there isn’t someone out there experiencing similar problems.

If you are experiencing financial issues this holiday, don’t wait. Contact our bankruptcy lawyers today.