We’ve all heard that saying ‘if you give a man a fish you can
feed him for a day, but if you teach a man to fish you can feed him for
a lifetime.’ At
Orshan, P.A., we don’t just help our clients out of financial trouble—we
help them find life style solutions so they can successfully avoid financial
trouble in the future. Our
Miami bankruptcy attorney recognizes that an individual that files for bankruptcy can easily find
themselves in similar predicaments in the future, which is why our firm promotes
debt healing behavior.
We have compiled a list of helpful tips that not only can help you get
out of your current financial troubles, but can also help you ensure financial
stability for the future.
Debt Healing Tips for Individuals
Be Honest, Especially to Yourself
Many people act as if ignoring their bills and debt can make it magically
disappear, but that is never true. The first step of solving the problem
is acknowledging there
IS a problem. Ask yourself questions like ‘how much do I make a month?’
and ‘how much do I actually owe?’ The more honest you are
about your situation, the quicker you can start getting the answers to
solving the problem
Forgiveness Is Key
You can’t keep blaming yourself for financial mistakes you have
made in the past. Maybe you took a few missteps that really took you down
a bad path. Instead of punishing yourself forever over these bad decisions
or outcomes, forgive yourself and move on. Moving forward is the only
way your situation can improve and in order to move forward you need to
leave the past behind.
Start Taking Action
The only way to move forward is to be proactive. Once you’ve assessed
the problem honestly and have forgiven yourself, you are ready to start
crawling out of that hole. You can get started by creating a budget and
STICKING to that budget. Many people find getting advice from a third party helpful.
Contact an experienced advisor or bankruptcy lawyer that can help start
you on the right path to recovery.
Debt Healing Tips for Companies and Businesses
Ensure Your Income Is Reliable
For healthy companies, manage your receivables so that your clients are
paying you regularly each month. If the payments your company receives
are erratic month-to-month and that client is paying you on older receivables,
your company could be the target of a preference action by a bankruptcy
trustee if that client seeks bankruptcy protection. If you receive a demand
letter from a bankruptcy trustee or a debtor regarding a payment your
contact us immediately.
Learn About Your Options
For struggling companies, there is an alternative to bankruptcy which
allows for the potential transfer of the company's assets, without
the debt, through a state court process known as an assignment for the
benefit of creditors. There are occasions when
bankruptcy is not the right fit for your business or a
compnay does not qualify for bankruptcy. Learning about your options can help you better understand what route
to take. For those being sued or who have had judgments entered against
them, let us help you determine your eligibility for bankruptcy to resolve
those judgments or whether the threat of bankruptcy could help settle
those debt issues.
Contact Orshan, P.A. for more information or advice on debt healing strategies.
Our Miami bankruptcy attorney can help you along your financial path.
free consultation today.