Doing Nothing When Bills Become Hard to Pay Can Cause Serious Consequences
Brandon, FL (Law Firm Newswire) July 12, 2011 - As people have a hard time paying credit card bills and other expenses, they get caught in a financial bind. They do not want to file for bankruptcy just yet in case more income does come in, yet they can’t live without basic groceries, gas, and the power turned on unless they stop paying all the rest of the bills. As weeks and months go by, urgent phone calls from creditors increase and letters keep flooding in to remind the debtor that their bills are past due.
“Our nature is to stick our head in the sand and hope the problems go away, but things are not going to get any better if you don't do something,” said Brandon bankruptcy attorney O. Reginald Osenton. “Whenever we meet with a new prospective client, we always discuss alternatives to bankruptcy, and if bankruptcy is needed, filing the right chapter of bankruptcy.”
The stigma with bankruptcy is gone in the depressed economy. A recent survey showed that one in eight people have considered bankruptcy. If an individual waits to get legal counsel and financial advice, they can start to have their wages garnished, judgments levied against them, foreclosure notices, and asset attachments. Collection agencies and junk debt buyers can serve an individual with a lawsuit to try to recover the unpaid money.
“You have to spring into action to stop the financial bleeding and pain,” said Osenton, who has more than 20 years of bankruptcy law experience. “The longer you wait, the tougher it will be.”
Many of Osenton’s clients have found that if they can adopt a proactive attitude or have friends or family that can help them be positive, they can make the right steps to complete a bankruptcy and start a new, better chapter in their life. Osenton Law Offices helps their clients through the bankruptcy planning and proceedings, and can even assist in helping them with best practices once the bankruptcy is over.
Obtaining a secure credit card, living frugally, creating a budget, and establishing an emergency fund will help an individual get back on track even in the first year after a bankruptcy. “If you commit to never getting in a financial mess again and continually work hard to do that, you can establish good credit scores and improve your life after the bankruptcy,” Osenton said.
In Tampa Bay, Brandon bankruptcy lawyer Reginald Osenton holds free, biweekly bankruptcy seminars so that individuals can learn the facts about bankruptcy and alternatives to it. Osenton is a member of the American Bar Association, the Real Property, Probate and Trust Law Section of the Florida Bar, and the Hillsborough County Bar Association.
Osenton Law Office, PA
500 Lithia Pinecrest Road
Brandon, Florida 33511
Call: (813) 654-5777
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