Summer is supposed to be carefree and breezy, but when you have overwhelming financial troubles, it’s challenging to feel the levity that summer should bring. Even if the possibility of bankruptcy makes you feel tense, have you considered how it could relieve stress so that you can enjoy your summer?
Here are some ways that filing for bankruptcy can bring relief:
1. Debt Relief: Depending on the type of bankruptcy you file, often your debts are discharged to bring financial relief after bankruptcy. You can be free of credit card debt and outstanding balances while keeping your home and primary form of transportation.
2. Protection from Creditors: Once you file bankruptcy, no one can call you to collect your debt. Bankruptcy protects you from harassment from creditors calling with threats to ding your credit and reporting you to collections. All of those calls will stop once you are able to provide proof of a bankruptcy filing.
3. Budgeting and Financial Planning: Once you file for bankruptcy, you will have a better view of your finances and what you can handle. Now is your chance for a fresh start. Make a budget that allows for living within your means and renew your motivation to stick to the budget.
4. Rebuilding Credit: Once your bankruptcy filing is underway, start rebuilding your credit immediately. Paying bills on time, using credit wisely, and maintaining a budget can help gradually improve your credit score over time. Taking steps towards financial stability allows you to position yourself for future opportunities and enjoy the benefits of a strong credit standing.
5. Professional Guidance: Hiring a bankruptcy lawyer will help you navigate the process in the best way possible. Find freedom from creditors and gain advice for rebuilding your credit for the future. Expert advice from a bankruptcy professional will always work in your favor.
At Miles & Hatcher, LLP, we understand the challenges that financial difficulties can pose. If you're considering bankruptcy or need assistance with debt relief, contact us at (909) 481-4080 to schedule a free consultation. Our experienced bankruptcy attorneys will guide you through the process, providing compassionate support and effective legal representation.