Life in Wichita isn’t once what it was. At one point, everything was wonderful, money came in and the debt load was manageable. Then something happened to disrupt your income, and the bills started to pile up. Chances are good that you started to research ways to eliminate your debt, came across bankruptcy, and dismissed it. It’s not unusual for people to try to avoid bankruptcy at all costs as there is a stigma attached to the idea of going through a legal process to eliminate all debt at once.
What you may not be acknowledging is that getting to the point where you can’t pay your bills means that you are broke. It is almost impossible to get out of this position with your creditors unless you are the recipient of a large influx of money. Since a windfall of money is unlikely, consider the fact that your creditors have penalized you harshly for your inability to pay. They added to the difficulty of you being able to get out of debt. Instead of trying to find ways to pay the debt back on your own, contact one of the many Bankruptcy lawyers in Wichita instead for help.
In the event that you want to avoid bankruptcy at all costs, Bankruptcy lawyers in Wichita can be of assistance. It may be possible that your creditors are open to a settlement of the debt via negotiation with a lawyer. This is known as “paying pennies on the dollar”, or paying less than what you owe to clear your debt. This method of debt clearance works if you have enough money at hand to pay the negotiated amount immediately. If you have no money saved up, then bankruptcy is the most sensible solution at this point.
There is no good reason to be resistant to bankruptcy at this point. Take into consideration the fact that your credit rating is gone and you are at risk of having your wages garnished to pay back your debt. Compare that against filing for insolvency and getting rid of all of your debts at once. Bankruptcy becomes the much better option instead of having your pockets picked for decades on end.