There are many misconceptions about filing for bankruptcy, a lot of myths and fears surround the daunting concept of declaring that you have to declare bankruptcy and throw in the towel… so to speak.
Filing for Chapter 11, 13, or 7 Is Not the End
A lot of people will speak about the exorbitant costs of acquiring a bankruptcy attorney when actually filing or chapter 11, 13, or 7. But the truth of the matter is, the cost of filing for an Attorney is no more extreme than the monumental expenses that you can incur from unpaid debts in the form of accrued interest rates and credit debt. The staggering percentages that can mount up over time when you don’t pay your debts alone are enough to encourage anyone to seek financial advice from a qualified bankruptcy attorney.
Nebraska has been experiencing a small business boom over the past decade like many states. And the task of fining a qualified Nebraska Bankruptcy attorney has become all the more difficult given the fact that so many people are filing and being misled by rumors of the danger of bankruptcy filing.
The Truth of the matter is, for small business owners who have found themselves fallen on hard times for one reason or another, the sensible option at some point is to file for bankruptcy and relive yourself from the staggering weight of massive credit debt that one can build up over time when running a small business. After all, you have enough to worry about when you’re actually making money…when you aren’t making any, life becomes significantly more complicated. Filing for bankruptcy is the logical conclusion to a natural business failure. Small business models don’t always work, and the smart business move at that point is to recognize a bad investment, and simply cut your losses by filing for chapter 11, chapter 13, or chapter 7.