Two Reasons Why Now Is A Good Time For You To File Bankruptcy
Drowning in a sea of bills is rarely a pleasant experience for anyone. It can be so disheartening to realize that your expenses have piled up to such an extent that you truly don't know how you're going to see your way out of it. If you are currently in this position, you might be toying around with the idea of filing for bankruptcy. However, if you've been given misinformation about exactly what bankruptcy is, you could be hesitant to go for it. Use this information to learn more about why now is the right time for you to file for bankruptcy.
Bankruptcy Offers Nearly Instantaneous Relief From Debt
The main reason why you should file for bankruptcy is because you'll get almost instant relief from your debt. Instead of taking every spare penny that you come across and trying to pay bills that you just can't handle, you'll be able to use your limited funds to take care of your living expenses.
Understand that the moment you file for bankruptcy, your lawyer will send out a notice to each of your creditors stating that they can no longer contact you directly but that all correspondence should come through them. This is known as an automatic stay and what it means is that the creditors can no longer move to collect the debt from you. Not only this, but they will be legally prohibited from sending you letters, calling you or even trying to sue you to get the funds. This can give you a great deal of relief, especially if you've been dealing with harassing phone calls for some time.
Bankruptcy Offers You A Chance To Start Fresh
Another reason why you should file for bankruptcy is because it gives you a chance to start over. If your current financial situation has become so dire that there is literally no way for you to dig yourself out, it's time to file for bankruptcy so you can have a clean slate.
If you file for Chapter 7 bankruptcy and it is granted, you can literally dissolve your debt. You can begin anew, armed with the knowledge you need to be a financially empowered individual from here on out.
A bankruptcy attorney, like one from Cowan & Brady Law Offices Of, can offer incredible advice that can truly help you start the process. Don't wait; get in touch with a bankruptcy lawyer today so you can start your filing as soon as possible.