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.
Overwhelming Debt
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.
