Managing your debts can be quite a hassle sometimes. If it seems your debts are ever increasing and you are unable to keep up with the payments, it's time to take a hard look at your situation and file bankruptcy.
You think you can't possibly qualify for bankruptcy, right?
Wrong. The term bankruptcy might sound alien to you. But if you file bankruptcy, you not only stop all collection activities against you, you save your assets too.
Here are the four major reasons to file for bankruptcy:
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#1 - Restore Your Peace Of Mind
You know you are unable to make payments. You don't need some stranger telling you over the phone about missed or delayed payments. And you definitely don't need that stranger being rude to you about it. When you declare bankruptcy, you put a stop to all those nasty calls.
#2 - Save Money
The court and lawyer fees to file for bankruptcy can total up to a couple of thousand bucks. But you will be able to keep huge assets like your home, car, etc. by spending such a comparatively meager amount in fees. So, isn't it worth it?
#3 - Protect Your Assets
When you declare bankruptcy it grants you an automatic stay protection on all your assets. All collection activities will be stopped. And this way, your house can't get into foreclosure, and the bank and/or other creditors can't repossess your car or other assets. You get to keep all your assets safe with you.
This protection order is valid for a few months, but during that time, your bankruptcy lawyer can negotiate a good debt repayment plan with the courts and your creditors. And you can pay off your debt gradually without the worry of your assets being taken away from you.
#4 - Manage Foreclosure
If your home is in the middle of a foreclosure, you can delay the foreclosure by filing bankruptcy. But if you file for bankruptcy before your home gets into foreclosure, you can completely stop any foreclosure process on your home.
Consult with a good bankruptcy lawyer to understand if you can afford to file bankruptcy at all. And when you do, what you might lose and how it can help secure a better financial future for you and your family.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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