What Will A Bankruptcy Do For You

Denvil Crowe's picture

Don't let the stigma of filing bankruptcy stop you from taking advantage of the benefits of filing a bankruptcy case. Many ask whether filing bankruptcy is worth the perceived cost. That's just it - the "perceived" cost. Prospective bankruptcy filers typically don't really know the costs of filing bankruptcy with any accuracy. What will a bankruptcy do for you? It will help you relieve financial hardship and start anew. It will help you return to a normal life. After one consultation with our office, you will feel a sense of relief.

In summary, bankruptcy actually accomplishes all of the following:

·        Stops lawsuits.

·        Stops garnishment.

·        Stops repossession.

·        Stops foreclosure.

·        Stops all creditor contact.

·        Helps rebuild credit.

·        Allows a "fresh start"

One of the intended purposes of the federal law which allows Americans to file a bankruptcy case is to enable them to get a fresh start. The relief from having a clean financial slate provides the opportunity for debtors to start over without the constant burden of unpaid debts. A Chapter 7 bankruptcy case wipes out debts and obligations in a streamlined manner without any need for debtors to repay any of their unsecured debts on a monthly plan.  

Many prospective bankruptcy filers think their credit will be ruined for 7 to 10 years. This is hardly a fact. Most individuals may recover their good credit in two to three years. Bankruptcy debtors typically receive offers of new credit right after the bankruptcy is completed, which is usually 3-4 months after filing. Qualifying for a mortgage loan should take no more than three years after a bankruptcy filing some may qualify after as little as one year.

A bankruptcy will allow you to go back to square one and restart your financial life with a new beginning. It will stop the continued buildup of bad credit. It will stop creditor harassment. It will stop repossessions and threats of repossession. It will stop threatening, harassing, and continuous phone calls from creditors and their unscrupulous collection agents.

Tupelo's most famous son, Elvis Presley was and is the "King of Rock and Roll." Denvil Crowe is the king of Tupelo's finest and most qualified bankruptcy attorneys. Call 800-429-HELP (4357) if you have any questions that need immediate answers or if you just need someone to help you accurately review and thoughtfully consider your options. We can help you decide whether bankruptcy is your best option. Email us at Contact@denvilcrowe.com or check us out online.

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