A Brief Introduction to Bankruptcy
If you feel like you are being smothered by your debt, then you need to take charge and do what you can to rectify the situation. If your bills are out of hand, and you feel like you are never going to catch up, then you should consider talking to a bankruptcy lawyer. You can learn more about Chapter 7 bankruptcy and some ways a bankruptcy lawyer can help in this article:
1. Bankruptcy can help you to move past your debt
It can be so difficult to move past a mountain of debt when you can't afford to pay it down. You can try to call and work something out with your creditors, but they aren't always as easy to work with as some would have you believe. When you have a number of them to pay off, and they all want as much as possible from you, it can be stressful and will likely not be possible to pay them down.
However, they won't just go away. They can call you and send you letters relentlessly. They can cause you to shut off your phone and stop checking your mail. However, this will likely lead to judgments being filed. Bankruptcy puts an end to all this harassment.
2. Bankruptcy can help prevent wage garnishments
If your creditors choose, they can file for a judgment. If they get the judgment against you, then they can garnish your wages and your bank accounts. The states differ when it comes to the percentage they are allowed to take from your pay and your accounts. However, in most cases, they can take so much at a time that it will hurt you financially. Filing bankruptcy can put an immediate stop to those garnishments.
3. Bankruptcy lawyers will help you through the whole process
Bankruptcy is not easy for you to do alone. This is why it's so great that there are bankruptcy lawyers available to help you with your bankruptcy. When you talk with a bankruptcy lawyer, they can help you decide if bankruptcy is right for your situation.
If you choose to go this route, they can help you to get all of your information together, such as the information on your credit accounts and other outstanding accounts. They will help you through the filing process, walk you through things like taking any mandatory credit education classes, and help you through the court process, so you will have your bankruptcy granted.