It may be tempting to file for bankruptcy relief when a reputable Salt Lake City bankruptcy attorney can handle the proceedings on your behalf. When you’re mountain-deep in debt with creditors hounding you, you may feel your only practical option is to declare bankruptcy. But, is bankruptcy your only choice? At best, filing for bankruptcy can discharge many of your debts other than those excluded by law. At worst, your credit rating takes a hit; a creditor may actually block a discharge of a debt you owe; or your property (on lien) can be taken from you. As you might realize by now, bankruptcy filing has certain risks. If you think about it, everything in life is associated with risk. It’s important to realize the benefits versus the risks in whatever options you consider, whether the options were suggested by Salt Lake City bankruptcy attorneys or those who have gone through the bankruptcy experience. Now, after considering the benefits and risk, should you move forward in filing for bankruptcy? Believe it or not, there are other options, depending on your situation. For instance, you can undergo credit counseling with a reputable non-profit organization. If you have a mortgage, there are certain laws and government policies that allow the homeowner to modify the mortgage’s terms to become favorable for both the lender and the borrower. A good time to seek out a bankruptcy attorney is when you wish to negotiate with your creditors. While there’s no guarantee your creditors will be flexible, they know all too well it’s better to collect something rather than nothing. If you hire an experienced bankruptcy attorney, he or she should have the expertise and clout to negotiate with your creditors, and bargain for terms acceptable to both you and your creditors. All in all, it pays to know what your options are before you jump into bankruptcy filing. Any reputable Salt Lake City bankruptcy lawyer â such as those bankruptcy attorneys with Craig Swapp & Associates â can sit down with you, discuss your situation, and advise what options are best for you.