Earlier this month, we all lost an hour of sleep. Just like every year, we spent the next day complaining and agreed to all be slightly angry for about a week.
But what’s interesting is that many people have lost years worth of sleep to overwhelming debt, and it doesn’t get a fraction of the attention.
We’re here to change that, and to help you go from debt quietly taking over your life, to becoming quietly wealthy. For more information, check out attorney Ben Matthews’ podcast, Debt Sucks.
When debt takes over your life, it does it subtly
Unlike Daylight Savings Time, debt arrives unannounced. It’s not one big moment that has an immediate and obvious impact. Instead, it creeps up on you, one bill, one late fee, and one ill-advised expense at a time.
Being in overwhelming debt is death by a thousand cuts. It means wincing every time you look at your bank account. It means waking up at 2 AM and watching helplessly as your mind plays out every worst-case scenario on repeat. It means picking up extra shifts you don’t want to work. It means deciding which bills you can pay this month and which can wait. It means wondering if life will ever get better.
It also means, for most people, a whole lot of procrastination. Indeed, the spring is when this can get worse. “Oh, things are getting busy now; I’ll take care of it when I’m less stressed.” “I just need a little more money.” Or, there’s the ever-popular: “I’ll take care of it once I get my tax refund.”
To be clear, there’s nothing wrong with using your tax refund to help with your debt repayment plan—we’ve written before about how, used wisely, it can help get you back in the game—but don’t use it as an excuse.
“Spring forward” with some momentum toward financial independence
What “spring forward” actually should mean, when you’re struggling financially, is building momentum, and that starts with action. That might mean putting a little money in your emergency savings; even $500 can make a huge difference, because it buys you the breathing room to make decisions. It might mean cancelling a few subscriptions or finding a little more room in your budget.
The point is to do something because momentum follows action, not the other way around. Once you start getting little wins, it becomes a little easier to take the next step. The goal is to take back control of your life—and all the little moments debt steals from you.
If you need a financial reset, bankruptcy may be the solution
For some people, though, clawing your way out of debt one bill at a time isn’t an option. If you’re in a really bad situation, you don’t need a plan; you need a lifeline. That’s the whole point of bankruptcy: to give you a fresh start. If you qualify for Chapter 7, you may be able to get your debts discharged in a matter of months. Chapter 13 takes a little longer, but it rolls all your debts into an affordable monthly payment and discharges those you can’t pay off within three to five years.
The moment you file for bankruptcy, something called the "automatic stay" kicks in. It's a powerful federal injunction that legally forbids creditors from contacting you, suing you, or garnishing your wages. It's the only way to instantly silence the phone and stop the collection letters. For many of our clients, that first night of quiet is the best sleep they've had in years.
A lot of people hesitate because they're worried about their credit score. But if you're already missing payments or maxed out, your score's already taking a hit. Bankruptcy isn't the end of your financial life; it's a tool to rebuild. Most of our clients see their scores start to recover faster than they ever could have by struggling with unpayable debt for another decade.
Is it time for a financial reset? Find out by talking to an experienced bankruptcy lawyer at Benjamin R. Matthews & Associates, LLC. Give us a call or contact us online for your free consultation.
"I found Mr. Matthews to be very professional and handled our case superbly. He kept us informed at each step of the process and guided us to the best solution to our case. His staff was always very courteous and helpful." – Patricia W., ⭐⭐⭐⭐⭐