When it comes to declaring bankruptcy, it is not the weapon it used to be. The law changed in 2005 and in net effect, fewer individuals qualify now for bankruptcy than before. Taxes, student loans, and judgment liens are most times still there after you finish the bankruptcy process. That said, it is still, by far, the most effective debt relief tool available to many individuals that are dealing with debt.
Large medical bills, particularly when combined with a loss of employment can create an almost impossible financial hole to climb out of. Declaring bankruptcy can help lower and even wipe away your medical bills and can even stop harassing creditors from showing up at your doorstep, especially if they are being unfairly aggressive or are fraudulently trying to take more than you owe.
What Are the Benefits of Declaring Bankruptcy?
Filing a bankruptcy petition can be beneficial in a wide range of situations, including:
- If you are at risk of a foreclosure on your home, declaring bankruptcy can stop this action from going forward and also create a payment plan that will help you repay your debts.
- Bankruptcy could allow you to take back a vehicle that has been repossessed by a creditor.
- Bankruptcy could enable you to take back a car that has been repossessed by a creditor.
- Large medical bills, especially when combined with a loss of work can create a virtually impossible financial hole to climb out of. Bankruptcy can help lower and even wipe away your medical bills.
- If your utilities have been shut off, bankruptcy will help restore services, so you do not need to live in darkness.
- Bankruptcy can stop wage garnishment, which means you will be able to afford life's needs.
How Can a Bankruptcy Attorney Help Me?
Are you struggling with debt? A bankruptcy lawyer can help you tremendously. Although our lawyers have worked with many dealing with a similar struggle to yours, we understand that each case is different, and see to it to deal with each client's case with the individual focus that it needs.
A bankruptcy attorney can help you in some of the following ways:
- Providing you with important legal guidance
- Ensuring that you understand each of the options available to you
- Helping to defend your legal rights
- Providing emotional support
- Stopping you from making possibly expensive errors
- Negotiating with creditors on your behalf
- Helping you to restore your credit and achieve financial freedom
Contact our law firm today to schedule a free consultation with our bankruptcy lawyers, and to find out more about what we can do to help you be debt-free and successfully restore your credit.
For more information about a Bankruptcy Attorney in Anaheim, California, contact Thomas K. McKnight LLP at (800) 466-7507 or visit our website at TKMLLP.Com for a free consultation!