What are the benefits of filing for bankruptcy?

by Recovery Law Group Recovery Law Group

Declaring bankruptcy is an emotional, complicated process. It does take more time and work than most realize, however, it could as well be an ideal solution for substantial debt problems.

The true advantages of bankruptcy

Consider professional consultation from an experienced bankruptcy lawyer or educate yourself on available choices – you might find that declaring bankruptcy could put you out of your financial misery.

More and more bankruptcy filers comfort stress by preventing:

Debt collection agencies harassment or calls

Debt lawsuits from lenders

Wage garnishments (lenders charging a good share of your monthly paycheck)

Foreclosure (unless the house is sold already)

Repossession of certain property

Filing for bankruptcy will also:

Eliminate many debts (in Chapter 7)

Secure certain properties from getting sold

Stop the growing debt and ensure a fresh start to turn around things

Is bankruptcy the right idea for you?

The decision to declare bankruptcy is a serious affair. There are different considerations worth evaluating closely before you get started:

The bearing on your potential ability to access creditors, credit, or low interest rates

The bearing on your credit report

Examine if you could lose your assets (if filed for Chapter 7)

The variations in expense and time associated with each bankruptcy type

If you are eligible for a certain bankruptcy type

Whether you are qualified for a certain for of bankruptcy

Whether you are able to retain your certain valuable assets from going under repossession

The key advantage of filing for bankruptcy is that it enables you to simply move away from the credit card bills, mortgage debts, debt from underpayment, unemployment, and medical bills that overwhelm your financial well-being and health. In other words, most, if not all, of your piling bills will just go away.

The bottom line is bankruptcy debt relief ensures you and your family a fresh financial start.

Most of Recovery Law Group’s clients wonder what a fresh financial start looks like. Put simply, a fresh financial start is a chance to live your life without crushing your debt, meaning you will get back your freedom to answer the phone and open your mail without fearing a letter from debt collectors. A fresh financial start is a chance to rearrange all your financial affairs and a chance to rebuild your credits. At Recovery Law Group, our bankruptcy lawyers strive to get a fresh start for all of our clients.

To consult, call now: 888-297-6203.

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Created on Jun 20th 2022 23:47. Viewed 181 times.

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