There is an old saying that a bankruptcy happens slowly and then all at once. That is definitely the case in my situation. I ran a successful business for about three decades until I suddenly required a licensed Houston attorney after I made a fatal mistake that cost me everything. I took pity on an old friend who, down on his luck largely due to his own personal failings, needed a job to take care of his family. Considering I was godfather to his youngest boy, I didn’t feel like I could refuse to help out. Little did I know one of his personal failings included a ravenous gambling habit. Since he worked for me as an accountant, he was able to hide the money he was stealing.
After everything shook out, I was a million dollars in the hole. My friend went to jail for embezzlement and I went to bankruptcy court in an effort to save my home. My family was literally in danger of being turned out on the street as my creditors cared less about my poor decision making and more about getting the money I owed them. Most of that money would have come from my home and my vehicles. I turned to my company’s attorney and he said I needed to go straight out and find a licensed Houston attorney who specialized in bankruptcy law. I would lose the company but retain enough of my assets to take care of my family.
Sounded like a plan to me. What choice did I have, really? I was still a bit skeptical that I would be able to keep most of my personal assets, but that is exactly what happened. My bankruptcy attorney moved heaven and earth to make sure I wasn’t entirely doomed. If you find yourself in a similar situation, don’t waste time. Get a bankruptcy lawyer.