Learning About Bankruptcy Attorney Services
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Learning About Bankruptcy Attorney Services

Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.


Learning About Bankruptcy Attorney Services

The Benefits That Chapter 7 Bankruptcy Offers

Don Elliott

Turning to bankruptcy might not be something you expected to do, but it might be the best solution if you cannot pay your bills. If you use Chapter 7 bankruptcy, you might benefit in several ways, depending on your situation. Chapter 7 is not an option for everyone, though. You must meet the eligibility criteria, and a bankruptcy attorney can help you determine if you do. If you meet the requirements and file for this branch, here are some of the benefits you might experience from it.

No More Calls from Your Creditors

One benefit you will receive through a Chapter 7 bankruptcy case is the automatic stay. The automatic stay is the tool that prevents creditors from calling you during a bankruptcy case. Once your creditors learn that you filed for Chapter 7, they cannot call you. If you are currently struggling with contact phone calls from creditors wanting money, this will be a huge relief for you. When your phone stops ringing off the hook, you might find some instant relief. Your creditors will not call you again either unless you still owe past-due balances after settling your bankruptcy case.

You Get Rid of Some Debts

The second benefit of Chapter 7 is the discharge of debts that it provides. Any debts that fall into the qualifying category will be forgiven through Chapter 7. For example, Chapter 7 typically discharges all medical bills, credit card bills, and collection accounts. Once you file your case, you can stop paying for these debts.

It Frees Up Your Cashflow

When you instantly eliminate some of the debts you have, it will automatically free up your cashflow. If you use all the money you earn to pay your bills each month, bankruptcy might change this for the better. You might have some money leftover at the end of each month. You can use this money for regular expenses or to pay off debts that you still owe after filing for bankruptcy.

You Can Start Rebuilding Your Credit

Finally, bankruptcy offers a fresh start, which means you can start rebuilding your credit right away. While bankruptcy affects your credit negatively, it can also help your credit. After all, you will no longer owe all the debt you had before it. If you handle this correctly, you can start seeing an increase in your credit score shortly after filing.

As you can imagine, these benefits can be very helpful for people struggling with debt problems. If you have debt problems and need some assistance, talk to a bankruptcy attorney today.