Bankruptcy should not be a last resort – think proactively

A recent post by a friend at his firm in Maryland firm on seeking help in times of desperation got me thinking of how often I see people come to me after having exhausted all their financial resources. They have drained retirement accounts, savings, college funds, everything is now gone. They then come to my office and ask me to help them get out of the debt into which they poured money over the years and STILL have not eliminated.

The bankruptcy code provides protection by way of exemptions for retirement funds, college funds, and limited protection for savings and life insurance. Personal injury claims have protection, as do worker’s compensation claims. These federal exemptions may, depending on where you live, be preempted by state law protections that expand a bankruptcy debtor’s rights to keep property even further. Why throw that away?

Too often, the desire to avoid an unpleasant decision leads to unintended and avoidable results. At the Law Offices of Scott J. Goldstein, we are bankruptcty attorneys who can help protect what you have and get out of debt without draining all your resources. If you don’t live where we do, but have problems like those described, find an attorney near you who can help. We are out there, we want to help you, before you have nothing left to protect.