At a time when the economy seems determined to remain stagnant and employment is hard to come by, keeping your and your family's finances in line can be extremely difficult. Despite the widespread acknowledgment that hard times are hitting many people, most creditors continue to be less than sympathetic and don't cut debtors any slack.
Unfortunately, this means that bankruptcy may be the only option for some. But before beginning the bankruptcy process, it is important to consult a bankruptcy attorney in Denver residents trust to help them navigate their financial issues.
Declaring bankruptcy is not an easy decision, and it also doesn't immediately lead to financial solvency. Bankruptcy is a process, not an immediate solution, so getting an understanding of how it works is important before you decide if it is the right option for you. An experienced attorney can walk you through the bankruptcy process and give you a realistic expectation of what lies ahead.
A bankruptcy attorney can also help you look objectively at how you might be able to work with creditors in order to structure financial arrangements that can put you in a positive position to move forward with your life.
The decision to enter bankruptcy is not easy to make, and you should not make it alone; consulting an experienced attorney can give you the insight needed to make the right choice for you. We are here to help you make the best decision for you and your family.
How To Talk To Your Kids About Your Bankruptcy
Filing for bankruptcy can be a difficult time for any family. Even when dealing with an excellent bankruptcy attorney in Denver, the process can be very stressful for everyone, including your kids. While they may not understand the complicated legal matter at hand, what they do understand is that less money is being spent on "fun" things and that Mom and Dad have become far more cash-conscious. Here are some tips on explaining bankruptcy to your kids.
Be Honest - Your kids might not understand what a mortgage or a credit card is, but they do understand that parents have bills. Explain honestly and gently that your bills have become more than the money you make and that cutting costs must become a way of life for the time being. Explain that you are taking action towards getting things back on track, but that there is going to be a period of living with a bit less.
Be Patient - Kids don't understand the value of a dollar. If you're spending less, they may express frustration with the new status quo. It's important that you be patient with your kids, even if they're adding to the frustration and anger that you're already experiencing. Adjusting to living with less can be hard for kids, but you being sympathetic and patient will help them to cope.
Aside from the help of an excellent bankruptcy lawyer in Denver, you'll need the support of your family to make it through this rough patch. Helping your kids understand the situation at hand will not only make it easier for you to deal with, but it will teach them a valuable life lesson about the importance of staying out of debt. This can become one of the best times for your family if you use it to spend more time together and looking into a faith community rather than spending evenings separately on electronic gadgets.
Our experience has shown us when kids are loved, the amount of money stresses out mom and dad a lot more than the kids.