June 08, 2020 Feature

Alternatives to Bankruptcy: A Lawyer’s Toolbox

Rinky S. Parwani

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Educating clients about these alternatives is crucial, even if bankruptcy is the option they ultimately choose.

Educating clients about these alternatives is crucial, even if bankruptcy is the option they ultimately choose.

siraanamwong/iStock via Getty Images

In these most difficult of economic times, everyone is looking for financial solutions. Although one of the first options is filing bankruptcy, that may not always be the right option for everyone. Sometimes, whether because of clients’ personal aversion to bankruptcy, belief in myths surrounding bankruptcy, or desire to maintain their credit scores, bankruptcy might not be their best option. Attorneys need more tools in their toolbox to fit a client’s particular situation.

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