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.
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!