Money is tight, and with the recent Presidential election results, many people fear their funds will only tighten more. When you have more debts than you can pay, and are living paycheck to paycheck, the smallest change or biggest disaster can set you back drastically. But there are things you can do to take charge of your finances, get out of debt, and on the road to financial recovery. One of these things is to file for the protection offered by the Bankruptcy Code. While many years ago it was taboo to seek help by declaring bankruptcy, the practice is pretty common place today. If you are thinking about how bankruptcy might help you, a good first step is to figure out how you will benefit from filing.
Three reasons bankruptcy is right for you are:
• Filing bankruptcy puts in place an automatic stop to creditor’s calls, letters, and lawsuits. So if you are afraid to open the mailbox every day or to answer your phone when it rings, you can rest easy the instant you file a case because filing bankruptcy puts an automatic stop to these actions, as well as to any pending collection lawsuits against you.
• Depending on the type of case you file, you might be able to wipe out all of your unsecured debt in its entirety. This includes signature loans, credit cards, and medical bills. When you no longer have this debt to pay, you can save money every month or put your hard earned cash towards other monthly obligations without fear of going over budget.
• Also depending on the type of case you file, you might be able to pay what your car is worth rather than pay what is owed. The savings can be significant, and add up to an emergency fund so when unexpected expenses arise in the future you won’t have to wonder where the funds will come from to cover the cost.
We understand how hard you work, and that when your money does not go as far as you need it to go, undue stress can be put on your family. For help figuring out your options and doing what is best for you, call us today.
For more information about how to handle overwhelming debt, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.