Bankruptcy is a serious matter, but it can be a positive way to get your finances back on track. Bankruptcy can discharge most of your debts and give you a fresh start with many of the negative consequences that come from being in debt. Here are some reasons why filing for bankruptcy might be right for you:
Filing bankruptcy can discharge most of your debts.
You may be able to discharge most of your debts through bankruptcy. This means that you don’t have to pay back the debt. The time it takes to discharge debts depends on the type of bankruptcy you file.
Bankruptcy is not a solution for everyone, but it can give you a fresh start and help you avoid paying off debt forever!
You may not lose all of your property when you file bankruptcy.
You don’t have to give up all your property when you file for bankruptcy. If you own a home or car, filing for bankruptcy won’t affect them. You can also keep retirement accounts and life insurance policies if any creditor tries to take those things away from you.
Filing bankruptcy will save you from garnishment, foreclosure, and repossession of your property.
Filing bankruptcy will provide you with a clean financial slate, which is why protecting yourself from garnishment and foreclosure is essential. You can avoid these things by simply filing for bankruptcy before they happen.
What is Garnishment?
Garnishment is when someone attempts to claim money or property you already have because they want to collect on an unpaid debt. For example, if you owe money on your credit card bill, the company may try to take some of your salary to pay off the debt. This can be very stressful and hard on those struggling financially – especially if it’s their only source of income!
Your creditor may also file for a judgment against them (if applicable), which prevents them from filing any further lawsuits against the debtor until their case has been resolved by either paying off all remaining debts or declaring bankruptcy protection first.
Bankruptcy stops creditor harassment.
Creditors can’t call you at work. They can’t call you at home. They can’t send you mail or even put a paper in your mailbox or on your doorstep if it’s addressed to anyone else but the debtor themselves (and sometimes even that is prohibited). When bankruptcy is filed, all creditors are required by law to stop any contact with the debtor—no matter how much money they owe them! This includes telephone calls and letters demanding payment, visits from collectors in person or by phone, etc., until after the discharge of the bankruptcy has been granted by the court several months later.
Filing bankruptcy does not have an adverse effect on your credit score.
In filing for bankruptcy, you can clear your debt and start fresh. The good news is that filing for bankruptcy does not harm your credit score, so there’s no need to worry about ruining your financial reputation. Your credit score is based on past behavior, which means it doesn’t consider future actions like filing for bankruptcy. To put it simply: if you’ve had bad credit in the past, filing for bankruptcy won’t make that worse; instead, it will help bring clarity to the situation by erasing the debt from your record once and for all.
The bottom line: Bankruptcy doesn’t ruin a person’s life or career—it can actually help them you back on track!
Bankruptcy may be a difficult choice to make, but it can provide a fresh start for many people in debt.
Bankruptcy may be complex, but it can provide a fresh start for many people in debt. Bankruptcy is not bad; it’s simply another option that allows you to get back on your feet financially. If you are considering filing bankruptcy because of overwhelming debts, you need to know things before deciding whether bankruptcy is right for you.
Godfrey Law is the right choice if you are looking for a reputable law firm in Ogden to help you get back on your feet by filing for bankruptcy. We have helped many people just like you get out of debt and start fresh. More importantly, we understand how difficult it can be to deal with legal issues as they pertain to bankruptcy cases.
Godfrey Law is the bankruptcy attorney you need. Our firm has over 30 years of experience helping people get out of debt and move forward with their lives. We can help you do the same. Contact us today to learn more about our services, or simply fill out an online form to receive your free initial consultation!