Did you make a New Year’s resolution for 2019? If you did, there is a good chance your resolution involved one of two things. The majority of Americans either resolve to lose weight or save money. Year-in and year-out financial goals are in the top five most common New Year’s resolutions, with all of the other four spots filled by a goal to eat better, exercise more, diet, or simply lose weight.

Yet, all of the studies into New Year’s resolutions indicate that 80% of all resolutions fail by February. Of the thousands of people in Goshen, Middletown, Monroe, and Chester that resolved to save more, spend less, and solve their financial problems, most people won’t actually follow through.

At Simon Haysom, LLC, we want to help you succeed on your New Year’s resolution to make 2019 financially successful, and we have four reasons that considering NY bankruptcy should be part of the equation.

#1: You Don’t Need to NY Bankruptcy Commit Now

Filing for NY bankruptcy is a tough decision. The process was created to solve the complicated and ongoing financial problems, not credit card debt that you could pay off next month. The gravity of filing for NY bankruptcy is exemplified by some of the drawbacks, including a hit to your credit score and difficult receiving a loan after filing. Luckily, you don’t need to make the decision to file for NY bankruptcy right away.

Talking with a Goshen, NY lawyer is a good first step. At Simon Haysom, LLC, a lawyer can help you assess your financial situation and potential bankruptcy in a cost-free, commitment-free environment. Our free consultation gives you the opportunity to do something about your financial situation in 2019, without making a firm commitment to any bankruptcy proceedings.

#2: NY Bankruptcy Gives You a Fresh Start

Discharge of your bankruptcy marks the conclusion of a bankruptcy matter with the court, but there is more good news. After a successful Chapter 7 or Chapter 13 bankruptcy, your remaining unsecured debt is also discharged. You can start with a clean slate financially. For someone that has faced long-term financial trouble or has an overwhelming amount of debt, NY bankruptcy really might be the only option to start fresh, as saving a little more or spending a little less won’t solve the problem.

If you have more questions about the discharge of your debts after NY bankruptcy or the difference between secured and unsecured debt, it is best to speak with a lawyer that focuses on bankruptcy and foreclosure matters.

#3: You Can End the Creditor Calls

Filing for NY bankruptcy gives you a fresh start in another important way – it is an end to the creditor calls and debt collectors that have a negative impact on your everyday life. Here’s how this aspect of NY bankruptcy works. When you file for bankruptcy, either Chapter 7 or Chapter 13, the repayment of your debts is now a legal process. Creditors must be repaid in order of priority, which is usually determined by the bankruptcy trustee for your case. The court must approve of every debt you repay.

To ensure that the bankruptcy court is given control of priority and repayment during a NY bankruptcy, creditors aren’t allowed to try and collect a debt. It would simply be unfair to allow creditors to call and call when you are legally barred from making any payments on those outstanding debts. Therefore, the court makes it illegal for creditors to continue to try and collect a debt after they are notified of a NY bankruptcy filing.

#4: Choose Action Over Inaction

The worst thing you can do in 2019 is allow your financial crisis to continue. If you don’t adopt new spending habits or find a way to repay your overdue medical bills, the interest and late fees will only increase. The longer you choose inaction, the worse your financial situation becomes. This should be the main incentive to investigate your options, including NY bankruptcy, in 2019.

There are many solutions to a tough financial problem. A bankruptcy lawyer in NY can assess your financial situation and help determine if bankruptcy is the right option. If there are better avenues to pay off your debts, a lawyer can also assist with alternatives to bankruptcy.

If you are ready to take action and tackle your debts, it’s time to talk with a bankruptcy lawyer in your area. You can begin by scheduling a free consultation with an attorney at Simon Haysom, LLC when you call (845) 294-3596.