What Are The Benefits of Declaring Bankruptcy?
By Peter Rasla & Associates, P.L.C.
Dec. 17, 2010 10:44a
If you find yourself not being able to sleep at night because of worrying about how you are going to pay your bills or if you have that sinking feeling that you are never going to get ahead, it may be time to look at declaring bankruptcy. When one's very survival is threatened and the mountain of debt keeps growing, bankruptcy is often the correct solution so you can get a fresh start. Living life in a constant state of anxiety is not conducive to bettering one's conditions and it affects everyone in your life, friends, family and co-workers.
Benefits
Declaring bankruptcy has many advantages and a bankruptcy attorney can work with you to help you determine which type would be best for your specific situation, a chapter 7 or 13. Following are some of the benefits of bankruptcy:
- It can help you avoid repossession, garnishment of wages and other collection actions and lawsuits that may be in process against you.
- It can discharge unsecured debt including medical bills, utilities, personal loans, credit cards and other debt.
- If your house is in foreclosure, it can place a stay on these proceedings.
- If your utilities have been disconnected or are about to be, they can be re-instated or kept on if a bankruptcy is filed.
- You can experience much relief from creditors calling you as all communications will be forwarded to your attorney.
- You will have an opportunity to get more education regarding how to better handle your finances so as to be more in control of your future.
- You will most likely start sleeping better at night and will be more enjoyable to be around.
If you are in the Irvine or the surrounding area and are considering bankruptcy, you should contact an Irvine bankruptcy attorney as soon as possible before things get any worse. At Peter Rasla & Associates, P.L.C., we have been successfully helping individuals and couples in financial trouble for years and can help with the exact procedure and timelines involved in a bankruptcy so it is done correctly and smoothly.
Contact an Irvine Bankruptcy Lawyer in our office to set up a free consultation so you can begin experiencing relief.
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