If you are reading this article then the chances are that you're looking up for personal bankruptcy information online. And if that is the case then it would be affair assumption that you are considering filing for personal bankruptcy.
Of course, if you're already researching for personal bankruptcy information then you have probably already read the consequences, the reasons not to, the downsides and the horror stories. You probably know that filing for bankruptcy will stain your credit file for ten years and that this is a public record matter that your friends and family might simply have no sympathy with you for.
Bankruptcy Chapter 13, Dallas Bankruptcy Attorney, Personal Bankruptcy,
But what about the consequences of not filing when you are in such bad financial need?
Well firstly, your home and car might end up being repossessed leaving you homeless and without transport... and STILL in debt to the companies who repossessed them!
Bankruptcy, on the other hand, can give you the necessary time to sort this out without repossession. Your mortgage company can easily process foreclosure if you are in mortgage arrears and bankruptcy can but a stay on this to hold it up and give you the time you need to get your finances in order.
However, you simply must bear in mind that while bankruptcy can hold up foreclosure, you still have to pay your mortgage eventually as this is secured debt. Chapter 13 bankruptcy could help you out in these circumstances as this will structure a manageable payment plan for you.
The next benefit of filing for personal bankruptcy is that this can stop wage garnishments, which can take place on debt such as student loans.
All in all, bankruptcy can help you to resolve your issues without having your wage garnished, without giving up your home etc. Surely this is better than trying EVERYTHING first, resulting in you losing your home and STILL ending up bankrupt anyway.
Needless to say, this is a huge financial decision you have to make and it is imperative that you speak to a lawyer for more personal bankruptcy information.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Lawyers Denver
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment