One of the most challenging aspects of single parenthood is struggling with finances. A single parent has to carry a load that’s usually taken on by two people. They alone are responsible for the mortgage, household bills, and childcare expenses. The help of alimony or child support might lighten the burden, but it’s still not easy.
Studies show that single mothers are more likely to file for bankruptcy than unmarried women without children. A decrease in income and possible loss of health insurance is a potential disaster without the support of a spouse. For some single parents, bankruptcy is the best way to regain their footing and get a new lease on life.
If you are experiencing a recent struggle with finances as a single parent or are wondering what you can do to create a better financial future for yourself and your children, filing for bankruptcy with the help of a trusted attorney might be the right option.
Bankruptcy is Often the Best Option
Getting a good education, living in a safe neighborhood, and getting efficient medical care are all things that children deserve. The good news is you don’t have to let your financial struggles prohibit you from providing those things to your children. Filing for bankruptcy is a financial solution that can help you get out from underneath the burden of debt and start living the life you desire for your family.
Out of control debt can wreak havoc on a person’s physical and mental health. Of course, it’s always a good idea to repay debts when possible. However, if you’re a single parent who has accumulated a significant amount of debt, are trying your best but are still struggling to repay it, filing for bankruptcy is worth considering. Bankruptcy is like pressing the reset button on life. It removes the crushing stress of dealing with massive debt. When the bankruptcy is official, a single parent will face a brighter future.
A New Start for Single Parents
There’s no shame in filing for bankruptcy and getting much-needed help. A single parent considering filing for bankruptcy should speak with an experienced attorney. The attorney can shed more light on the situation and discover if bankruptcy is, in fact, the best decision. Most first consultations are free.
The first step is to decide if bankruptcy is the right choice. There are several things to consider before making that decision. For instance, it’s important to know that Chapter 7 bankruptcy eliminates all unsecured debt, like credit cards. Chapter 13 bankruptcy means it’s possible to keep most if not all current assets. It’s also important to note that bankruptcy stops most wage garnishments and collection attempts.
The best way to tackle a financial problem is to face it right away. Avoiding the topic can cause more problems in the future, so it’s important to call in legal help as quickly as possible.
Trusted Northeastern Louisiana Lawyers
There’s no better time than now to decide if bankruptcy is the best option for you and your family. To get help making that decision, call the trusted and knowledgeable attorneys at E. Orum Young Law Offices. They understand the intricacies of filing for bankruptcy and can help ensure you’re on the best track to financial freedom. If bankruptcy is not the best option, then the E. Orum Young bankruptcy lawyers can also help find a different way out of the deficit. They can negotiate with creditors on your behalf and perhaps get them to lower the payments. They can also help consolidate your affected accounts so there’s only one monthly payment to be made.
What are you waiting for? E. Orum Young Law has more than 35 years helping the people of Northeastern Louisiana file for bankruptcy and regain control of their finances. In those 35 years, we have filed more than 20,000 cases and experienced unbelievable success. We help our clients understand the aspects of their case and handle any necessary filings. Speak with us today at (318) 450-3192 to schedule your free case review and start protecting your family’s future.