Our Detroit and southeastern Michigan readers may recall that last week's post discussed how people who are in financial straits should consider managing debt when there is simply too much month at the end of the money.
Michiganders who are facing a serious financial challenge should also consider talking to an experienced bankruptcy attorney once they realize that a serious budget crunch is coming. A bankruptcy attorney like the ones at The Smith Law Offices, P.C. can of course help a family file a bankruptcy, but also help a family make that all important decision whether or not to file bankruptcy in the first place. Sometimes, there may be solutions short of a bankruptcy that could help people pay their credit cards and other debts, yet still maintain a healthy standard of living.
Furthermore, should a couple decide that they will need to file a bankruptcy, an experienced attorney can help people prepare for their bankruptcy in an ethical and legal way. Sometimes when preparing for bankruptcy, people make common mistakes, like withdrawing from a retirement fund unnecessarily, that could be avoided with some helpful legal guidance. While certainly it is not proper to try to conceal assets or defraud creditors, there are ways in which an attorney can help a family plan for a successful bankruptcy by spending assets properly and otherwise making plans for an impending bankruptcy.
Financial catastrophes can be extremely stressful for families, but a family does not have to try to get through one alone without help. The Smith Law Offices P.C. is available to offer valuable advice and support.