When you decide that filing bankruptcy is the right solution for your financial situation, you may worry about how this legal process will affect you legally and financially. However, it is also important to keep in mind that although bankruptcy is associated with certain consequences, it can also be advantageous for several reasons.
- No Phone Calls from Creditors. If you currently have an extensive amount of debt, you likely receive multiple phone calls every day from your creditors demanding payment on your accounts. When you embark on the bankruptcy filing process, you immediately receive protection from your creditors. This means that they can no longer contact you or threaten you with wage garnishment, repossession, or foreclosure.
- Relief from Your Debts. If you are like many people, living with a large amount of debt likely causes you to experience anxiety and distress on a daily basis. By filing bankruptcy, you do not have to worry about how you will manage to pay off your debts, and can finally find relief from your current financial situation.
A Fresh Start. With bankruptcy, you have the opportunity to start over financially and change the way you handle your finances. If you want to know how you can make this happen and how filing bankruptcy will directly impact your personal situation, please contact us at Morgan & Partners Inc. With over 25 years of experience, you can rest assured that we will do everything we can to protect your best interests.