WHAT ARE THE ADVANTAGES OF FILING FOR BANKRUPTCY?
There are several advantages to filing for bankruptcy. By far, the most important advantage is that you can obtain a financial “fresh start.” Consumers who file for Chapter 7 bankruptcy will be discharged from (forgiven from paying) most unsecured debts while keeping most (if not all) of their assets. Another advantage is that collection efforts must legally cease once your case is filed.
If a creditor does not cease its efforts, that creditor may be found in contempt of court and ordered to pay damages. These are just a few of the advantages. Contact my office for your FREE ½ hour consultation; we will discuss whether filing for bankruptcy is the right decision for you.
Attorney Jennifer L. Ryczek
Please note: This information is not, nor is it intended to be, legal advice. You should always consult an attorney for individual advice regarding your own situation. We are a debt relief agency. Among other services, we help people file for bankruptcy relief under the bankruptcy code.