Benefits to Filing for Bankruptcy
What Are the Benefits of Bankruptcy?
There are many
myths about bankruptcy. Most of them surround the falsehood that there are no benefits to filing
bankruptcy other than getting rid of your debt. In the firm's 15 years
of practice, we have observed significant benefits to our client's
lives and happiness from the relief experienced with a
discharging of debt. Once the bankruptcy petition is filed, an automatic stay is issued by
the court, or an injunction that will stop potential and actual lawsuits,
foreclosures, garnishments and most other collection actions with which
you are struggling. This initial period of relief gives them the mental
and emotional bandwidth to begin creating their new financial future.
An Irvine bankruptcy lawyer from the firm can answer all of your questions
concerning bankruptcy and help you to begin experiencing the relief that
comes with the ability to resolve your debts. In
Chapter 7 bankruptcy the entire process for those who are qualified can take as
little as a few months. Under
Chapter 13 you may be able to put off foreclosure of your home. Under Chapter 11,
you may be able to rid your business of obligations that are preventing
you from growing your business.
Enjoy the Advantages of Bankruptcy Today
There are many benefits to
bankruptcy and it is important that you understand that the stigma sometimes associated
with it is normally borne out of ignorance and falsehoods. Bankruptcy,
for those who qualify is a legal and workable option when buried in debt
for various reasons. It is so unfortunate that individuals, families and
businesses struggle for years with no improvement when there are legal
options that could help them tremendously. Don't allow crushing financial
debt ruin your life or the lives of your family.