Can Filing Bankruptcy Actually Help Me?
If you're struggling with debt and considering your options, you may be wondering, how might personal bankruptcy help?
Bankruptcy laws were designed to provide unique protections for those dealing with overwhelming debt or a drastic change to their finances.
The decision to file bankruptcy is a personal one. However, consulting a bankruptcy attorney in your area may help you. An attorney can explain the basics of doing so as well as answer any questions you may have about the process. You can connect with a bankruptcy lawyer in your state today by completing our bankruptcy case review form or calling 877-833-2410.
Bankruptcy May Help - Here's How
Depending on your situation, filing bankruptcy may actually help you in a number of ways:
Filing bankruptcy instantly stops creditor calls and communications.
Once you have filed for bankruptcy, a legal protection called the automatic stay prohibits contact from creditors. When a creditor calls, you simply inform the representative that you have taken this action. From then on, the creditor can no longer communicate with you; all communications must be made with the bankruptcy trustee or your attorney.
Knowing that the phone calls and letters should stop may be very attractive to you, especially if your stress levels have been elevated because of the constant reminders that you owe debts you cannot pay.
Depending on which type of bankruptcy you file (Chapter 7 or Chapter 13) and your financial situation, you may be completely discharged from your debts. In this case, you may not have to pay anything back. Or, a repayment plan may be set up to allow you to repay some of the debts over time.
After a few years have passed, you can begin rebuilding your credit.
Locating a Bankruptcy Attorney
These are just a few of the ways that will help you determine how bankruptcy could help, and consulting with a bankruptcy lawyer in your state may reveal others. You can find a local bankruptcy attorney by completing our free case review below or by calling 877-833-2410. You can arrange a no-obligation consultation and find out how bankruptcy could help in your unique situation.