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How to File Bankruptcy

If you or your family are considering bankruptcy as a solution for your problems, there are several steps you should follow as part of learning how to file bankruptcy paperwork properly. Step One: Understanding your Debt If your debt is … Continue reading

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Benefits of Bankruptcy

A financial hardship can occur to anyone at anytime. These days, with a fitful economy starting, then stalling, more and more families are suffering through the stresses of keeping their home mortgage, personal property and other bills paid. The loss of a job, a business failure, divorce, health problems are all reasons for debt to become a burden, causing stress, loss of sleep and a feeling that the world is closing in on you. Before the threatening calls and letters coming in from debt collectors take their toll on you, consider bankruptcy as a solution. Bankruptcy is a lawful and reasonable debt solution and there are benefits to bankruptcy.

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Immediate benefits of bankruptcy

Filing for bankruptcy is serious business so it’s not to be approached without the guidance and counsel of a qualified and experienced bankruptcy attorney. Once your attorney examines your case and determines that bankruptcy is your best solution, there are immediate benefits that will leave you breathing a sigh of relief:

  • Collection harassment ceases

    Once your bankruptcy case goes to court, all threatening phone calls and letters cease. Your creditors must stop coercing you to pay or face breaking the law. Bankruptcy is a legal means of giving you some breathing space and reducing your stress level. If you have filed a Chapter 7 bankruptcy, most of your unsecured debt may be completely discharged so that you no longer owe hospital bills, credit card debt or payday loans. No more toxic letters, no more venomous phone calls, you can once again breath easier and use what money you have for food, healthcare and the other necessities of life.

  • Protection of property

    One of the other benefits of bankruptcy is the guarantee that your personal property, including your vehicle and your home, cannot be seized by creditors. In addition, the process will also stop wage garnishment. If you have a job, your income can once again be used for life — not debt repayment — so that every dollar you earn goes to your pocket instead of being torn away before you ever get your paycheck.

  • Adjustment of secured debt

    Payments of your home mortgage, vehicle, land and other property will not be discharged but examined and placed in a plan where you are able to pay on them without creating a hardship for yourself and your family. A repayment plan benefits you by making it reasonable to repay secured debt and eventually coming out free and clear of debt.

Don’t let circumstances you had no control over keep pushing you to the brink. Contact the professionals at Richard Adams Law for a free consultation and see if bankruptcy is a logical way for you to get your life back. Clearing up indebtedness helps give you a fresh start on life. The benefits of bankruptcy are a way to use the law to protect yourself, your assets, your family’s way of life and your mental and physical health. Don’t allow yourself to suffer another day — make the call to see if bankruptcy is right for you.

 

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