Bankruptcy. There, we said it. It’s not an easy word to let out. Often, we have a stigma against bankruptcy procedures. Whether we decry it as a ‘tool of the rich’ to avoid paying debts or simply as the ‘cowards way out’ there is a reason that we have this option available to us. Throughout life there are times when circumstances outside of our control or conception affect our ability to be an upstanding citizen and make payments on our debts and bills. That’s OK. That’s right – it’s OK. Don’t abuse this blessing in disguise and you’ll find yourself breathing easier.
Bankruptcy Helps with Future Credit
This one seems like a real stretch – by filing bankruptcy you help your future-self gain access to better financing opportunities. While there certainly will be a hit to your credit, after successfully completing bankruptcy and waiting out the mandatory time periods you will be freer and better off than if you had simply ran late on all your bills and payments (or defaulted).
Consolidating Your Necessities
As you begin to shed all the sorts of debts and obligations that overextended yourself once the ‘good times’ ended, you’ll find yourself able to focus only on what matters and what you truly need. This is important – too often we find ourselves relying on certain physical comforts that we cannot imagine ourselves living without even if they are preventing us from succeeding financially. Bankruptcy will protect your most vital assets from seizure while forgiving some of your more extraneous debts.
Peace of Mind
By putting a stay on all your debts and asset forfeiture you can finally begin to put your life back together. The idea that you will finally be able to breathe again and not worry about the constant barrage of letters and phone calls about your outstanding debts or physical assets (cars, house, etc) being seized is an unspoken blessing. You’ll be able to plan out your return to financial solvency without the anxiety-inducing rat race of collections agents, debt management ‘specialists’, or irate creditors.
While there are more specific benefits to bankruptcy in each individuals case, these are just some of the more general benefits people can see from filing bankruptcy. However, before considering such an important and far-reaching option it is best that you speak with a trained, professional such as an attorney to best determine what options are best for you.
Most people make one of two mistakes when they think of a personal injury attorney. One, that personal injury lawyers are only useful for car accidents or hospitalization. This is not true. Second, that obtaining a personal injury attorney would either hurt their case or cause issues with their employer. That is also not true. Particularly in regards to the second mistake, it is imperative that you have representation by an expert before you begin negotiating any workers compensation settlement or lawsuit. No one will have your best interests at heart except for your attorney because they are solely there to represent you and your position. Below we have included some examples of workplace accidents or injuries you might overlook:
Straining or spraining yourself
Overexertion of yourself is a simple and common way to hurt yourself. If this occurs on the job and often enough as a result of your employment you will want to consult with an attorney to make sure you are being compensated fairly. This could be the result of too much strenuous movement.
While this may seem obvious, dealing with the consequences of these types of injuries is not. There are degrees that you can lose function or ability with these types of injuries and it’s important you speak with someone to help you determine what may be available to you. This can be caused by constant exposure to loud noises or bright lights without proper PPE (personal protective equipment).
Often we are told to simply “brush off” after a slip, fall, or scrape. However, depending on the workplace and it’s cleanliness or proximity to caustic substances we may be in more danger than we even know. Addressing infections or sicknesses that arise from improper handling of scrapes or bruises is important and you may be able to receive compensation from your insurance or company.
Overall, there are multitudes of things that constitute an injury. What you should be asking yourself is whether or not you are due compensation for your medical bills, treatment, or damages sustained in the process. The best way to ensure you are not missing out on due compensation is to speak with a personal injury lawyer about your conditions. Otherwise, you very well may be leaving money that is rightfully yours on the table – something that should never happen.
Declaring bankruptcy is not an action taken lightly by the party needing to take such a measure. It’s typically the last resort when handling debt, and the process can be costly and time-consuming. Still, it can be particularly helpful when filed in the right manner and time. The benefits of filing for bankruptcy include saving money, keeping creditors at bay, building credit, getting back on your feet financially and peace of mind. When is the right time to file for bankruptcy?
First, Make an Assessment
In simple terms, if you owe more to creditors than you can afford to pay, you are in a state of bankruptcy. Take stock of your liquid assets in order to figure out your financial standing. Do an inventory of sorts, covering things like stocks, bonds, real estate, retirement funds, etc. Move on to determining your debt, including all bills and credit statements. If the value of your debt is more than the value of your assets, filing for bankruptcy might get you of that financial hole.
Filing for Bankruptcy in Massachusetts
1. Faced With Long-Term Cash Flow Problem
If you are having cash flow challenges because your business is under-performing, you may need to make some tough changes. A bad quarter may lead to instances of late or missed vendor payments. While all may not be lost just yet, getting your business’s cash flow back in order should be a priority. When you’ve identified the early warning signs of cash flow troubles, you may take corrective measures to try and get back on track. If internal changes are no longer a viable option to fix your cash flow problem, it is time to file for bankruptcy.
2. Creditor Harassment
Credit card debt is perhaps one of the most popular reasons people file for bankruptcy. Life happens, and finances can get ruined when changes take place, such as reduced income in a household. This could be the result of a job loss, the consequence of which could amount to increased expenses and late payments. Falling behind on credit card payments usually result in creditors calling, maybe threatening to garnish paychecks. To end the harassment and phone calls and tackle your credit card debt, filing for bankruptcy could be a solid option.
3. Facing Foreclosure
Sometimes homeowners are either faced with mortgage loans that exceed what they can afford or simply fall victims to life circumstances. Either way, financial troubles can cause a person to lose their home. One way to avoid that disaster is to file for bankruptcy to help them recover and hold on to their home.
If you are facing a financial crisis and need a bankruptcy lawyer, contact Mike Tokatlyan to help you ease your financial burden and get you back on track.
Every year, there are numerous auto/motorcycle accidents that leave victims with serious injuries. It is typical to experience feelings of anxiety and to be overwhelmed by the incident and its implications. You’ll need to make a full recovery, both physically and financially, and you may find that you can’t do it by yourself. You may be questioning whether or not you need the help of a personal injury attorney. The simple fact is that, after an auto/motorcycle accident, it’s smart to retain an attorney, no matter the situation, in order to protect yourself and secure compensation for damages. Here are some of the reasons you may need a personal injury attorney after an auto/motorcycle accident.
Medical Expenses Piling Up
If you suffer any form of injury as a result of the accident, you don’t want to treat that very lightly. It doesn’t matter if the injuries are minor, or you are suffering from a more serious condition, like a brain injury, an attorney is your best option to help you recover damages. A full medical examination is crucial immediately after an accident, not only to your health but to establish a medical record that would prove essential to your case.
In the instance that there are multiple parties involved in the auto/motorcycle accident, liability might not be immediately clear. It might be that multiple parties are liable for your injuries, and insurance companies can make life difficult for you. You need a skilled attorney on your side to fight for you and maneuver the obstacles that you could likely face, like counterclaims and cross-claims, and ultimately, help you to get fair compensation for your injuries.
Need to Recover Lost Wages
Following an auto/motorcycle accident, you can be left with a serious injury that affects your ability to work or cause you to be absent from altogether. The results in diminished earning capacity, robbing you of crucial wages. Lost wages impact different areas of your life, from being able to pay your household bills, to medical bills. Whether the accident led to the time taken for physical therapy, hospitalization or permanent disability, to be fairly compensated, you need an attorney who can prove that your injuries, which interfere with your ability to work, was a direct result of the accident and compromised your earning ability.
Attorney Mike Tokatlyan can ensure that your rights are protected after an auto/motorcycle accident and that you get fair compensation for damages sustained.