Bankruptcy success stories: Roy from Arizona
Today, Roy has developed great budgeting skills that have helped him stay out of debt for years. By living within his means, he is now slowly rebuilding his credit score and working toward a brighter financial future.
In 2010, statistics indicated that as many as one out of every five Americans filed for bankruptcy due to an unexpected job loss. And though recent reports indicate that the U.S. job market is on the mend, for those in certain industries, the prospect of losing their paycheck is a harsh reality they must live with every day.
Still, with the help of bankruptcy, Minnesota residents may find that they are able to overcome these obstacles and right their finances. USA Bankruptcy Guide, an online resource where those who have filed for protection tell their stories, recently featured the story of Roy, man from Arizona, who relieved himself of massive debt with a protective filing.
According to Roy, he was unexpectedly laid off in 2003 after his company lost a sizable contract with a local firm. With his lucrative salary gone, he took low-paying jobs simply to make ends meet and maintain his lifestyle. However, after a year of struggling to get by, he started exploring the idea of filing for bankruptcy.
With the help of a bankruptcy firm, Roy was able to keep his car and continue working. Meanwhile, a legal professional handled all the paperwork capably and diligently, so that when Roy arrived in court, his filing was quickly approved.
“Honestly, this was the best decision I have made in my life,” Roy wrote on the site. “I knew that I was headed for a future of collection calls, denials due to a bad credit score, and living off a life of money orders and payday loans.”
Today, Roy has developed great budgeting skills that have helped him stay out of debt for years. By living within his means, he is now rebuilding his credit score and working toward a brighter financial future.