Finding yourself in a situation where you are considering bankruptcy is never fun. Still, it’s important to understand that bankruptcy can be a tool to help consumers improve their financial situation by eliminating the barriers they may face to accomplish that goal. If you’re still on the fence about filing for bankruptcy, it’s only because you aren’t quite sure how it can help you. So, here are several important benefits you’ll reap immediately when you take steps to protect your money by hiring a leading bankruptcy lawyer.
The Automatic Stay
If you are on the receiving end of an endless stream of threatening calls and letters from bill collectors trying to scare you into paying them, you will be happy to know that filing for bankruptcy will make them stop. As soon as you file your petition, your creditors will be required to halt any debt collection actions, which means that you can look forward to a more peaceful life.
A Clean Slate
If you qualify for Chapter 7 bankruptcy, you’ll be able to get a fresh start in life by wiping out most of the unsecured debts that you currently owe. This means that you’ll never again have to worry about making enough money to pay them back, and you’ll be able to start over with a new understanding of how to avoid that situation in the future.
Keep The Important Stuff
Many people mistakenly believe that filing for bankruptcy means having to give up all of their possessions, including their homes and cars. While the court may require you to part with some of your luxury items in order to allow you creditors to recover some of their money, a good bankruptcy attorney may still be able to help you keep your home and car through exemption allowances. For many people, this means that they’ll be able to build a better financial profile without having to worry about how to meet their basic needs for shelter and transportation.
Although some people may see filing for bankruptcy as a negative thing, it’s important to realize that it can go a long way toward helping you get your finances back on track. When you make the choice to protect your money with leading bankruptcy lawyer, you’ll finally be able to breathe easy as you embark on a journey to improve your financial outlook and create a better life for you and your family.
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