Is Bankruptcy Right for Me?
The word “bankruptcy” carries with it strong feelings of fear and intimidation. Many people fear that they will lose everything if they file for bankruptcy, and because of such, they instead choose to live under the overwhelming weight of debt.
In reality, though, bankruptcy is the perfect opportunity to get a fresh start on life. It gives you the chance to reorganize your debt into manageable payment plans, and possibly even wipe away lots of unsecured debts entirely.
So when should you consider filing for bankruptcy? You should consider bankruptcy if:
- Your car or other property might be repossessed.
- Your home is in danger of foreclosure.
- Your credit card debts are becoming too hard to handle.
- You are weighted by massive medical bills.
- Your wages are being garnished.
- You have lost your job.
- Debt collectors keep contacting you with harassing phone calls.
By simply filing for bankruptcy, your home is instantly protected from foreclosure, your car cannot be repossessed, and debt collectors are forbidden to contact you.
If you are eligible for Chapter 7 bankruptcy, your unsecured debts, which most often include credit card debts and medical bills, will be wiped away completely. In a Chapter 13 bankruptcy, you’re given a manageable three to five year repayment plan, and at the end of which, many of your unsecured debts will then be fully discharged.
It’s just not worth it to live life in fear of creditors and overwhelming debt. Be brave and take the first step in reclaiming your financial freedom. Call us today to speak with an experience bankruptcy attorney and see just how beneficial bankruptcy can be for you,