Everyone Files for Bankruptcy: Even Debt Counselors

Everyone files for bankruptcy in Colorado, even debt counselors. Read more in our blog.

Some people are ashamed that they are filing for bankruptcy in Aurora, Littleton, and Centennial. Whenever I am talking with people who dealing with guilt, I am saddened. The purpose of bankruptcy is to give people a clean slate – a way to start over. Whenever I am faced with people feeling remorse about filing for bankruptcy, I tell them that everyone files for bankruptcy – even debt counselors. Don’t believe me? I came across an article the other day by a debt counselor who had filed for bankruptcy. I’ll paraphrase the story for you.

A Debt Counselor Who Filed for Bankruptcy: Dave’s Story

Dave is a financial advisor – a debt counselor. He remembers the moment he told his wife that they needed to file bankruptcy because of the shock on her face. How could this have happened? Dave’s job was to advise people about how to manage money and debt! But, life has a way of getting away from us, even when we “know better.” Dave explained how their finances got out of control, ending in bankruptcy. It is much like the story of many of my clients. Let’s break it down. These are the mistakes Dave admits he made:

– Not Paying Off School Loans Immediately

Dave and his wife began their marriage with over $40,000 in school loans. They were young and didn’t know any better, so they didn’t focus on paying down the loans in the early years of their marriage.

– Not Living Within Their Means

Dave didn’t focus on living within his means. They bought new cars when they wanted to. When their family grew, they bought a bigger home. We all tend to live like this – we live in the United States where everyone is much more affluent than other areas of the world, and we are expected to have things like cars and homes, and take nice vacations.

– Not Having a Budget

Neither Dave nor his wife grew up in a home where finances were a focus. They didn’t budget. They didn’t save. They lived from paycheck to paycheck, because it feels like the easiest way to live. Dave knew better – he knew exactly what to do to live debt free, because it was his job. But, it’s not always easy to apply those principles to your own life.

[pullquote align=”center” textalign=”center” width=”60%”]People from all walks of life file for bankruptcy. Even debt counselors.[/pullquote]

Takeaway: Even Debt Counselors File for Bankruptcy

Dave was humbled by his experience. But, bankruptcy gave him the ability to get a fresh start. And, most of all, it allowed his family to stay together. Without bankruptcy, he most likely would have gotten divorced, and his family would have been torn apart. Even people who “know better,” file for bankruptcy. Don’t let negativity and guilt keep you from taking the step you need to take towards financial freedom in Greenwood Village, Highlands Ranch, and Parker. Bankruptcy gives us all the ability to get a fresh start.

If you are struggling with guilt regarding filing for bankruptcy in Castle Rock, Englewood, and Lone Tree, understand that everyone files for bankruptcy – even debt counselors. Call now to request your free initial consultation meeting with Barry Arrington, a trustworthy and understanding bankruptcy attorney at 303-205-7870 or submit the “Get Help Now” form to begin your journey toward financial freedom.

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