Thursday, July 28, 2016

Three Benefits To Filing Bankruptcy


Having more bills than money every month is a problem that will quickly catch up with you and cause your finances to spiral out of control. And, not only will your finances take a hit, but your physical and emotional health can be damaged as well. The stress caused by being under financial pressure can result in loss of appetite or sleep and these things can turn into health problems that impact every area of your life. In order to take back some control and get a breath of fresh air it is crucial that you find ways to effectively manage your debt. One of the things you can do is to find out more about bankruptcy, and how it will help you and your family.

Three ways bankruptcy can help you are:

          All collection efforts must stop immediately upon the filing of a bankruptcy case. This means that you will no longer have to be afraid to open a piece of mail from a lender or avoid phone calls because you fear a collector is on the other end of the line. This type of relief will help to alleviate the stress you are feeling from being unable to pay all of your bills on time and give you the chance to come up with a budget that works.

          If your wages are being garnished this must also stop, which puts more of your hard earned money back in your pocket.

          Depending on the type of case you file you may be able to pay less than what is due on the loan for some of your property. We all know that some things lose a significant amount of value as soon as they are bought, like a car, and in bankruptcy you are able to pay what something is worth rather than what the seller made you pay.

Bankruptcy has proven to be a life saver for thousands of consumer debtors and it can help you too. We are experienced in preparing and filing cases and look forward to speaking with you to learn your needs and come up with solutions that fit.

For more information about how bankruptcy can help you, call us today or reach us online at www.law-ri.com. We offer appointments at multiple locations for your convenience and can schedule a time to visit with you soon.

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