Are you struggling with high interest credit card debt or unpaid medical bills and simply have no idea how you're going to catch up to all of your monthly payments? If you've been thinking about bankruptcy as a solution to your financial problems, you should know about the bankruptcy automatic stay provision. While you should not take bankruptcy lightly, it may be the solution that you've been looking for.
When you file for bankruptcy, the automatic stay kicks in and prevents your creditors from foreclosing on your house or repossessing any of your assets. In fact, bill collectors are not even supposed to bother you, at least until your case has been settled. If you are contacted despite the automatic stay, the offending party will have to answer to a federal bankruptcy judge.
Cleveland Bankruptcy Lawyer, Bankruptcy Attorney Denver CO, Bankruptcy Forms,
Of course, this provision is only temporary, and the outcome of your bankruptcy case will determine what exactly happens to all of the debts that you were unable to pay off previously. Even so, the bankruptcy automatic stay provision can give you some real relief when you figure out what to do.
If your Chapter 7 bankruptcy case is successful, you may be able to discharge much or all of your debt. If you decide to file Chapter 13 bankruptcy instead, you will be given a chance to make monthly payments through a restructuring program. Either way, you should find it much easier to deal with repayments.
It's important to realize that there have been some changes in recent years, so you should discuss your options thoroughly with a bankruptcy lawyer and possibly a financial adviser. You don't want to make any assumptions when it comes to such a big decision that could have long-term ramifications for your financial future. Make sure to get all the facts and learn as much as possible before making your final decision.
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 Chapter 11 Bankruptcy
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment