Bankruptcy has helped thousands of people get out from overwhelming debt, and make a fresh financial start. The effects are both long and short term, and can really help you get a handle on your budget. If you owe more than you make and are struggling to keep up with everyday expenses, bankruptcy is the answer for you. When you file a bankruptcy case, you are able to eliminate or significantly reduce most of your debt and focus on making payments for necessities. This type of financial freedom can give you the ability to make a budget and stick to it, and will also relieve a lot of the anxiety you feel at not being able to pay all of your bills.
Two of the benefits you will feel right away, or a short term benefit, when you file bankruptcy include:
• Your creditors will not be able to continue calling you, and will also not be allowed to keep pending any collection or foreclosure lawsuit against you. This benefit is automatic, and in place the minute your case is filed. This gives you a chance to catch your breath, and take a moment to take stock of your bank balance so your everyday needs can be met.
• You are no longer required to pay monthly bills for debts that are being discharged, and this can give you an immediate infusion of cash that is much needed.
Think about how much extra money you might have every month if you did not have to make payments on high interest rate credit cards, or only had to pay what your car is worth rather than what is left due on the contract. This is what bankruptcy can do for you pretty much right away after you file, and is a great short term benefit that allows you to adjust your monthly budget from the get-go.
There are, of course, benefits to bankruptcy that extend beyond these two immediate benefits. But, for most people, getting a fast result when money is tight is best. So, if you need help with your bills or have been taking too many collection phone calls lately, call our office for help. We will go over your case and explain your options to you, so you can make a decision that will offer a satisfactory result tomorrow, and for the years to come.
For more information about debt management and what you can to do get out of debt, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.