Bankruptcy helps Missouri woman end five-year financial struggle
In a recent blog article for USA Bankruptcy Guide, Linda from Missouri detailed how she was able to end a five-year financial struggle by filing for Chapter 7 bankruptcy.
In a recent blog article for USA Bankruptcy Guide, Linda, a resident of Missouri, detailed how she was able to end a five-year financial struggle by filing for Chapter 7 bankruptcy. Linda's problems started during the housing crisis, as during the real estate boom of the 2000s, she and her husband were awarded a generous amount by the bank to build their own home.
“I couldn't imagine them making a mistake in judgment because after all, they were The Bank,” Linda wrote. “Banks know how to handle money, right? Well, not always.”
Following three years of timely payments, the market collapsed. Linda's husband, an employee of FEMA, did not work that year due to a lack of natural disasters, and the couple, who were acting as foster parents, lost two girls. By this time, she said, they had all but stopped paying their bills, budgeting only necessary expenses like car payments, gas, food and utilities.
That's when the calls from creditors began. According to Linda, this was a constant stress, but one that finally moved her toward a beneficial bankruptcy filing. After some debate, Linda and her husband contacted a lawyer and initiated the bankruptcy process.
While under bankruptcy protection, the couple were able to sell their home as part of a short sale and have since relocated. Linda said that now she is able to keep her finances in check by shopping at discount outlets and buying off-brand foods, and she says she loves being able to pay for things as she buys them.
“I feel better than I have in years, and I'm convinced it's because the size of the debt was weighing me down emotionally,” she said.
I've you've been considering a Chapter 7 filing in Minnesota, look no further than The Atlas Law Firm. We can pair you with one of the best Carver, Minneapolis or Washington bankruptcy attorneys to help you get out from under the pressure of debt.