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Declaring Bankruptcy in Dallas: When Should You Stop Paying Your Bills?

Posted By admin || 28-Feb-2012

Declaring Bankruptcy in Dallas: When Should You Stop Paying Your Bills?

When Should You Stop Paying Your Bills During Bankruptcy

Let's face it: you dream of the day when you can finally finish paying your bills and declare yourself as debt-free. But with the shape your personal finances are in, you don't foresee that day coming for a long time. So instead of declaring bankruptcy in Dallas, you decide to continue slogging through your bill pile, hoping that you'll eventually see the day when you're greeted by a big fat zero on your account balance.

But we're here to tell you when it's time to stop paying your bills - and time to declare bankruptcy in Dallas:

Don't Let Morality Take You In

When it comes to declaring bankruptcy in Dallas, there are plenty of individuals who refuse to throw in the towel simply because they'll feel guilty about getting rid of their debts. They have the belief that because they owe the money, they need to pay it back - even when it destroys them financially, mentally and emotionally.

However, attaching guilt to your finances is often a move made by financially shortsighted people. Declaring bankruptcy isn't like thievery, nor is it fraud (unless, of course, you took out the loans with no intention of paying the money back). Therefore, don't throw every single dollar you have at your debts if you need to declare bankruptcy. Besides, if you have done everything you can to pay back the debt, personal bankruptcy may be your only option left.

Stop Dreaming of Better Finances

Stop dreaming of the day when you win the lottery, or when you'll get a major promotion at your job. If your cash flow is limited, you need to work with what you've got. And if what you have isn't working, then it is time to turn to personal bankruptcy for the relief you need.

Don't Buy What Creditors are Selling You

If creditors are trying to make you feel guilty about filing for a personal bankruptcy, don't buy what they are trying to sell you. As the Great Recession revealed to us, bankers and lenders are the last people on the planet who can preach about the morality of paying their bills. Therefore, do not let them try to guilt-trip you into paying your bills rather than taking care of necessities when bankruptcy is the best option for your finances.

If you can't pay for your bills anymore, it's time to contact a Dallas bankruptcy attorney and discuss if a personal bankruptcy can help you today.

Categories: Bankruptcy
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