The Benefits of Bankruptcy

Trust the Counsel of a Willoughby Bankruptcy Attorney

Many people think of bankruptcy as something to avoid—a last resort for people who have exhausted all other means of resolving their debts. While bankruptcy is not for everyone, we at Axlerod Law Office want you to understand that bankruptcy is not a bad thing! Rather, it is a government-provided means of helping consumers get a fresh start.

There are many benefits involved for those who file bankruptcy wisely. Our Willoughby bankruptcy lawyers can sit down with you to discuss your options and help you decide if filing for Chapter 7 or Chapter 13 bankruptcy could be beneficial for you and your family, ultimately freeing you from your overwhelming debt for good. Read about the benefits of bankruptcy below and then get in touch with a lawyer who can help.

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How Bankruptcy Can Be a Good Thing

  • Debt Discharge – Once your bankruptcy process is complete, your eligible debts will be “forgiven.” This means you will no longer be required to repay them and you will have the financial freedom you’ve been seeking for so long.
  • No More Harassing Creditors! – Filing for bankruptcy will place an “automatic stay” on all credit collection. By law, creditors will no longer be allowed to contact you after you file for bankruptcy. Say “goodbye” to all those collection calls and letters!
  • You Can Keep Certain Property – Don’t assume that you will lose everything you own! Speak with a bankruptcy lawyer in Willoughby because, depending on your situation, you may qualify for exemptions that protect certain vital property from being liquidated (repossessed or auctioned off as repayment for part your debt).
  • Credit Restoration – Keep in mind that bankruptcy does affect your credit score; however, it also gives you the opportunity to start rebuilding your credit sooner rather than later. Once you’ve filed bankruptcy, you can start over again with a clean slate.

Think Bankruptcy Is Right for You? Call a Bankruptcy Lawyer in Willoughby!

Consulting a caring and knowledgeable bankruptcy attorney can help you make a confident decision regarding your financial future. Axelrod Law Offices has over 10 years of experience helping clients seek a brighter future through bankruptcy and debt relief. Our team could help you, too. Call us today!

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