3 Reasons Bankruptcy May Be Right for You

bankruptcyclockAlthough bankruptcy is not the right solution for every consumer or business owner, it may be for you.  If you’re suffering from severe financial hardship, are unable to pay your bills or trying to prevent foreclosure on your home, you may find this debt relief option very beneficial for your situati0n.

Here are 3 reasons bankruptcy may be right for you:

1. Filing Bankruptcy Ends Harassment from Creditors

One of the major problems you’re facing may be harassment from your creditors. Constantly, you’re pursued by creditors who want and demand payment on their accounts despite your inability to pay. As home foreclosure and car repossession proceedings commence, you’re receiving endless telephone calls from creditors demanding their payments. This places YOU under a great deal of emotional and physical stress. Filing bankruptcy can end the harassment from your creditors.

2. Reduce Your Stress Level

Let’s face it, no one sets out to rack up a bunch of bills and not repay them. Generally, bankruptcy is the result of life-changing events such as job loss, illness and divorce; all of which are stressful for any person to deal with.

From the moment you file your bankruptcy petition, your creditors are forbidden from pursuing you and efforts to repossess your car or foreclose on your home will end. This alone can help relieve you from an enormous amount of stress while you work through the bankruptcy process.

3. Better Manage your Debts with a Plan Payment

Unlike chapter 7, under chapter 13 bankruptcy you’re allowed to enter into a bankruptcy payment plan to repay your creditors. This allows you to restructure all of your debts over three to five years, making it easier to manage and pay back over time.

Although filing bankruptcy can seem difficult for some, the benefits of ending creditor harassment, reducing your stress, and managing your debts more effectively can far outweigh any perceived difficulties or disadvantages.

If you’re considering bankruptcy as an option, you should schedule a consultation with our office to discuss your debt relief options, help you navigate the bankruptcy process, and protect your interests and assets.

http://www.realworldlaw.com/how-to-use-chapter-13-bankruptcy-to-prevent-foreclosure/

Glenn A. Brown, Esq.

Attorney Glenn Brown and the Real World Law team provides legal protection to homeowners and businesses in eminent domain and condemnation actions, commercial and residential real estate closings, and other litigation matters. If you're a property owner in need of legal protection, contact our law firm. We've two convenient office locations, serving communities in and around Upper Darby, PA and Wilmington, DE.

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