When a person has become used to a situation for long enough, it can be difficult to want to change it, even if it is a negative one. You may have become someone who has struggled with outstanding debt for so long that you want to simply ignore it and not think about trying to overcome it. However, this tactic has likely only led to more issues, such as constant creditor calls and other persistent collection efforts.

Now, you may have reached your breaking point, and you no longer want to simply ignore your debt problems. It may be a goal of yours to actively address your outstanding liabilities and work toward a fresh financial start. However, how can you best do that?

Is bankruptcy right for you?

If you have taken the ignorance and denial route already, it is likely that your debt situation has only worsened over the years. As a result, any attempts at negotiating with your creditors to lower your liabilities were likely met with complete resistance from those creditors. This may have been one of the first steps you took in efforts to face your financial problems. Because it did not go well, your initial hesitation to take action may have crept back in.

Before you go back to ignoring your problems, however, you may want to remember that bankruptcy is a proven debt-relief option. If creditor negotiations did not go well, and if your assets are less than your debts, it may be time to seriously consider this method for getting back on financial track.

Do the pros outweigh the cons?

The downsides to bankruptcy often get more attention than the upsides. For instance, your credit score will face a negative impact, and you may face some personal and emotional repercussions of taking this route. However, you may want to keep in mind that ignoring your debt issues has likely already taken a toll on your credit score. Additionally, your financial problems may have been keeping your down emotionally, and bankruptcy may actually give you hope for a brighter future.

Though denial may seem effective at first, it does not solve problems. If you think that bankruptcy may be able to help you, it could be in your best interests to gain more information about the process. Consulting with an Iowa bankruptcy attorney may help you during the decision-making process.