Bankruptcy is often viewed as a very negative thing, even a punishment, by many people. It is true that filing for bankruptcy does have some disadvantages. At the same time, it also has a surprising number of benefits, which largely outweigh the disadvantage that go along with filing. Examples of the benefits to be gained from bankruptcy include:
Discharging your debt – Once you have completed your bankruptcy proceedings, whether it be for Chapter 7 or Chapter 13, you will have erased most if not all of your outstanding debt. In being debt-free, you can start your life over in much better financial circumstances.
Relief from your creditors – If you have a substantial debt load, chances are you are being harassed or relentlessly pursued by creditors. Bankruptcy stops this harassment in its tracks, as your creditors must communicate through a bankruptcy liaison once the process has begun.
Financial clean slate – Though you will have a bankruptcy on your credit history, you will essentially have a clean slate once your proceedings have ended. Likely you will have limited access to credit right away, and in time your ability to obtain a credit card or loan will return fully.
Beaton Law Office is well versed in all aspects of the bankruptcy process, and we are available to provide you with comprehensive information if you are considering filing. Should you decide to proceed, we will guide you step-by-step toward completion, and ensure that you have the best possible chance of a successful outcome. Contact a Merrimack Valley bankruptcy attorney at our firm for the help you need to get your life back on track.
Bankruptcy can be immensely helpful, but it is not a particularly easy or quick process if you are attempting to file on your own. That is why it is recommended that you retain the help of an experienced attorney, who can help you avoid the pitfalls that many people encounter in their bankruptcies, and ensure that you are choosing the bankruptcy method that is right for you.
Bankruptcy can be an effective method for ridding yourself of the debt that is causing you considerable financial struggle. Contact a Massachusetts bankruptcy lawyer for further information that will assist you in making a decision about filing.
By Doug Beaton