If you are unable to keep up with your bills, bankruptcy can help you achieve a clean slate and peace of mind. While there are definite benefits to bankruptcy, how do you know bankruptcy is right for you?
If you are considering bankruptcy, you should first consult a bankruptcy attorney to assess your unique financial situation, determine whether you qualify to file, and explain the process. Below are a few reasons filing bankruptcy may be your next step to a brighter financial future.
Unsecured debts include things like medical bills, credit card bills and broken apartment leases. Depending on whether you file Chapter 7 or Chapter 13 bankruptcy, these debts may be eliminated entirely or may be paid back little by little over time.
You risk foreclosure on your home
A bankruptcy filing can stop you from losing your home and can clear away 2nd mortgages in certain cases. Bankruptcy can prevent repossession of your assets as well. Motor vehicles, wedding rings and retirement accounts are examples of exemptions.
Your wages are being garnished
Bankruptcy will put an automatic stay on debt collection efforts taking any money out of your paycheck.
You are being harassed by creditors
As soon as a petition for bankruptcy is filed, creditors must stop contacting you immediately.
Bankruptcy will stop the debt collectors from calling, and help you to get the fresh start you need to get back on track.
Call King and King today for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.