When it involves declaring bankruptcy, it is not the weapon it used to be. The law changed in 2005 and in net effect, less people qualify now for bankruptcy than previously. Taxes, student loans, and judgment liens are most times still there after you complete the bankruptcy process. That said, it is still, by far, the most effective debt relief device available to many individuals who are dealing with debt.
Large medical bills, especially when combined with a loss of work can create a virtually impossible financial hole to climb out of. Filing for bankruptcy can help lower and even wipe away your medical bills and can also prevent harassing creditors from turning up at your front door, especially if they are being unfairly aggressive or are fraudulently attempting to take more than you owe.
What Are the Advantages 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 property, declaring bankruptcy can stop this motion from going forward and also establish a payment structure that will help you repay your debts.
- Bankruptcy may allow you to take back a car that has been repossessed by a creditor.
- Bankruptcy may enable you to take back a car that has been repossessed by a creditor.
- Large medical bills, particularly when combined with a loss of employment can create an almost impossible financial hole to climb out of. Bankruptcy can help reduce or even wipe away your medical bills.
- If your utilities have been turned off, bankruptcy will help recover services, so you do not have to live in darkness.
- Bankruptcy can stop wage garnishment, which means you will be able to afford life's necessities.
How Can A Bankruptcy Attorney Help Me?
Are you struggling with debt? A bankruptcy lawyer can help you significantly. Although our lawyers have worked with many facing a similar problem to you, we understand that each case is different, and make certain to deal with each client's case with the individual focus that it needs.
A bankruptcy lawyer can help you in some of the following ways:
- Providing you with vital legal advice
- Making sure that you understand each of the choices available to you
- Helping to defend your legal rights
- Providing emotional support
- Stopping you from making potentially expensive errors
- Negotiating with creditors on your behalf
- Helping you to rebuild your credit and reach financial freedom
Get in touch with our law firm today to book a free consultation with our bankruptcy lawyers, and to learn more about what we can do to help you be debt-free and successfully restore your credit.
For more information about a Bankruptcy Lawyer in Tustin, California, contact Thomas K. McKnight LLP at (800) 466-7507 or visit our website at TKMLLP.Com for a free consultation!