Some Florida residents may be struggling with the decision to file for bankruptcy. As they do so, it may help to understand that there is a potential “bright side” to filing Chapter 7 bankruptcy, according to the author of a 2016 book. The author, a consultant and small business owner, filed for both personal and business bankruptcy. but chose to focus on what she could learn from the process and making positive changes to her life.
In the book, the author does not shy away from sharing the struggles she experienced through her divorce and financial failure. However, she deemed the ordeal to be a hidden blessing. As a result of her filing, she says she became much more familiar with economic issues and business matters in general.
The author asserts that filing Chapter 7 bankruptcy can be a way to prevent someone from getting into deeper financial difficulties. She says bankruptcy often allows individuals to stop “digging a deeper hole” for themselves and can help them move forward and change their lives. She also notes that bankruptcy does not last forever and rebuilding financial strength can occur in a fairly short amount of time. The process of rebuilding one’s credit rating actually starts with the bankruptcy filing itself.
There are many factors to address when considering filing for Chapter 7 bankruptcy in Florida. An attorney experienced in bankruptcy law can help individuals as they navigate this daunting process. If someone is making a decision about filing for bankruptcy, it would be wise to seek assistance from a legal team equipped to address all the complex issues involved.
Source: ebony.com, “The Bright Sides to Filing for Chapter 7 Bankruptcy”, Kara I. Stevens, Jan. 4, 2017