YIKES!!

“Geez, if I had THAT, I certainly wouldn’t be considering bankruptcy!”

“How can you expect me to pay THAT, I’m broke, dagnabit!”

Well, let’s assume you really, really do need to file. You have three choices: Hire an attorney, use a petition preparer, or prepare and file on your own.

File on your own: Yes, you probably can understand each and every one of the questions posed to you in the bankruptcy documents, and, yes, you can accurately provide true, accurate and complete answers. Your filing will be legally sufficient.

Use a petition preparer: Because they are absolutely prohibited from providing you with any legal advice whatsoever, this is a complete no-brainer: DON’T DO IT!! A petition preparer, by law, can only fill in the information you provide. Why not type it in yourself? Why indeed!

Hire an attorney: As stated above, yes, you can read and understand each and every question in the bankruptcy documents, and, yes, you can prepare and file true, accurate and complete documents. (There is at least one critical exception — the schedule of claimed exemptions — but we’ll ignore that for now.)

The real issue here, though, is: WHAT DO THOSE ANSWERS AND DATA MEAN??

Only an experienced bankruptcy attorney can look at the pile of facts that reflects your unique situation and make a professional evaluation of how they all relate to one another and what you should do (or not do), and when you should (or should not) do it.

There is so dang much that can go wrong without an experienced and competent attorney that you simply cannot afford NOT to hire one.

Yes, that’s arguably a biased opinion, but one based on 31+ years of experience and observation.

Thanks for your interest and time reading this!

Mark Emmett, Consumer Bankruptcy Lawyer

Member National Association of Consumer Bankruptcy Attorneys

Mark R. Emmett, Esq.
mremmett @ gmail.com
716 East 4500 South N240
Murray, Utah 84107-3619
801-438-4050

Well, compared to sleepless nights, physical and emotional illness, or loss of a valued relationship, maybe not so much, eh?  If you can’t bear to hear the phone ring, let alone to answer it, if you know the local process servers by sight if not by name, if you have a mountain of unopened bills that you know you can’t pay, maybe then bankruptcy sucks a bit less.

Fill a hole or build a castle?  Let’s make a dubious assumption:  You have enough income to pay off all of your debts and provide for your and your family’s needs for the next five years.  (It’s a dubious assumption because if nothing else you will be dealing with the stress of fighting off your creditors and their collection agencies and attorneys.)  Let’s further assume that you owe a total of $20,000.00 in unsecured debt, and that interest on that debt will be adding up at a rate of 10%.  You’re going to pay an average of about $420.00 per month for each of the 60 months during that five years.  At the end of the five years, you have filled that $20,000.00 hole, and all you have to show for it is a filled hole.  Assuming, again, that you in fact have the $420.00 per month over and above your reasonable living expenses, what if you instead invested the money?  Well, then at the end of the five years you would have (again assuming 10% interest) $32,910.76!  Even with NO interest you’d have $25,200.00.

How do you want to spend the next five years:  Filling a hole (and trying to survive the stress) or building your castle?

So, bankruptcy sucks?  I don’t think so.

Thanks for your time and interest!

Mark Emmett, Consumer Bankruptcy Lawyer

Member National Association of Consumer Bankruptcy Attorneys

Mark R. Emmett, Esq.
mremmett @ gmail.com
716 East 4500 South N240
Murray, Utah 84107-3619
801-438-4050

No one wins when an otherwise productive, contributing member of society is essentially disabled by their temporary inability to keep up with their debts.

So, Congress has, through the Bankruptcy Code, established procedures to give a fresh start and second chance to those who would might otherwise simply “drop out” of life as it could and should be.  This benefits the bankruptcy debtor and his or her specific creditors and the economy at large, as I’ll explain below.

If you’re unable to pay your debts, what typically happens?:

• Your productivity and creativity (not to mention your mental and physical health and personal relationships) suffer under the stress of fighting off creditors and their collection agencies and lawyers.
• You are consequently unable to give proper attention to your work and personal life.
• Not only are you unable to pay your current debts, you’re almost certainly not able to incur new debt or to purchase new products and services.  The economy stagnates [see, for example, 2008-2009(?)].

CONCLUSION:  You are one sick puppy who can’t find your mom, let alone run with the pack any more.

Enter bankruptcy:  Once relieved of the impossible burden of your past debt load, you’re able to give proper attention and effort to your life again, and your creditors and the overall economy benefit because you’re once again able to be a consumer of their products and services.

If you really need to file, bankruptcy is truly a win-win proposition.

Thanks for your time and interest!

Attorney Mark R. Emmett
Consumer Bankruptcy Lawyer and Advocate Since 1978
Member National Association of Consumer Bankruptcy Attorneys

Mark R. Emmett, Esq.
mremmett @ gmail.com
716 East 4500 South N240
Murray, Utah 84107-3619
801-438-4050