Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.
The feeling of invincibility is one of the best and worst attributes of being young. As a young person, you may be eager to bounce back from mistakes. For this reason, financial irresponsibility and even bankruptcy in your 20s can teach you a lot about life. If you are in your 20s and considering contacting a bankruptcy attorney, here are some reasons why this can enact a turning point in your life.
You hit rock bottom and bounce back earlier
Some people do not learn about personal finance and its consequences until they are in their 30s and beyond. At this point, most people are getting married and starting families, giving financial falls even more penalties. If you are in your 20s and recognize that you have crossed the point of no return, you have time to file bankruptcy, learn from your mistakes, and rebound before you even hit your 30th birthday. This will bring you ahead of the pack.
Bankruptcy will be gone in your 30s
Many millennials owe so much debt that they are no longer purchasing houses or other significant assets. If you are among the millennials who is having financial issues and you need to file bankruptcy to rectify these, you may come out on top. A bankruptcy will stay on your credit report for up to 10 years. If you file for bankruptcy around age 25, your bankruptcy will fall off of your credit report at around age 34-35. At age 35, you are still young and have several decades until you will retire. This will allow you the chance to start all over while you still have your best working years ahead of you.
Moving up in your career will be easier
If you gain major debt in your 20s and ignore it through your 30s, you may find that moving up in your career is harder. Government jobs that require a background check and a security clearance may deny you a clearance due to your financial issues. Some employers also perform credit checks and will select candidates based on their overall background. Heavy debt that is not taken care of in your 20s can also cut into the bonuses and increases in pay that you would otherwise be able to spend on retreats for professional development, further schooling, and equipment investment that could help you further your career. Filing for bankruptcy in your 20s can be an overall new financial phoenix for you.