For all the reasons you should file for bankruptcy, there are still a few reasons not to file. We can help you figure out if bankruptcy is right for you, and whether your situation is better suited for Chapter 7 or Chapter 13. The first step for many is to get past the notion that there is a stigma attached to filing. There is life during and after bankruptcy.

It’s easy to say, but, really, someone mired in debt shouldn’t worry what others will think. A friend told us about her father’s reaction to her Chapter 13 bankruptcy. He was angry in a “what will the neighbors think?” way. She looked at him and asked if she could borrow $74,000. If he could just write a check, then, no problem, she wouldn’t be filing. He backed off. She stuck to her repayment plan and moved on.

Someone who is mired in debt shouldn’t worry that their credit rating and reputation will be marred for life, either. If anything, a bankruptcy petition will forestall judgments from unsecured creditors. And at Lynch Law Offices P.C., we provide guidance and resources to help our clients rebuild their credit.

Don’t believe us? A story in the Freeport Journal-Standard offers a great example. The story is not about a person, though. It’s about a civic organization.

The Boys and Girls Club of Freeport and Stephenson County suffered funding and management issues for a few years. Parent organization Martin Luther King Jr. Community Services of Illinois sought bankruptcy protection twice in the early 2000s, and the club felt the loss acutely. In 2007, operations shut down and the national organization revoked the chapter’s charter.

The club learned this week that its charter has been restored. The national office never lost hope that the club could right itself — in fact, its staff continued to guide the club, continued to partner with local leaders to get the chapter back on solid ground.

The transformation took hard work and some fresh thinking, but it paid off. With funding secured for the next few years and a new leadership team in place, the club will now have the official support of the national organization. The Freeport club serves about 1,000 kids ever year.

There is life after bankruptcy. Transformation is possible, especially when you have a trusted partner and adviser at your side. Please contact us if you have questions about bankruptcy or debt relief.

Source: The Journal-Standard, “Freeport Boys and Girls Club back on track, charter restored,” Cindy Scott Day, Jan. 28, 2015