Bankruptcy Social Stigma is Changing

Many people know that bankruptcy is most likely their best option but avoid filing a petition because they fear the social stigma. However, the perception of bankruptcy is changing. Many people can relate to difficult life events and are taking a much less reproachful view on filing for Texas bankruptcy.

Americans Understand Hard Times

More than 1.1 million people filed for bankruptcy within the past year, according to the United States Courts. That’s a lot of Americans who are experiencing financial problems that may be much like yours.

Many people can relate to the financial stresses that are unique to today’s economy. While in the past, people might have associated bankruptcy with irresponsibly or flagrancy, that just isn’t the case anymore. Among the common reasons people file for bankruptcy are: 

• medical bills;
• job loss; and
• divorce. 

These are things that the consumer isn’t always in control of, and many people can empathize. Racking up hundreds of thousands of dollars in medical bills after a health crisis or getting the short end of the stick in a nasty divorce can be financially devastating. But these kinds of problems are common in America.

U.S. News and World Report reports that the stereotype that people who file for bankruptcy are irresponsible is a myth that should be debunked. They explain: “Long-term unemployment, the legal fees associated with divorce, the cost of running two households following a divorce, or the high cost of medical care have all driven well-intentioned Americans into bankruptcy.”

Financial burden can weigh heavily on your psyche, your physical health and your relationships. If you’re struggling keeping afloat, consider contacting an attorney to learn what kinds of options may be available.

Finding a Texas Bankruptcy Attorney You Can Trust

At Warren & Migliaccio, we empathize with our clients’ situations and are never here to judge. We will help you take a good, objective look at where you stand, help you devise a workable plan and provide you with professional counsel regarding filing for bankruptcy. For a free, discreet, no-obligation consultation give us a call at (888) 584-9614.