Why File For Bankruptcy?

There are numerous reasons to file for bankruptcy. 1) Protection of your assets– Creditors can wipe out your savings or checking accounts, attach liens to assets, or have your employer garnish your wages to pay off your debts. 2) Prevent creditor collection harassment– Bankruptcy will stop creditor harassment, wage garnishments, the collection of judgments and other creditor actions.3) Stay/Stop Foreclosure Proceedings on your home– In addition, filing bankruptcy will temporarily suspend foreclosure proceedings.  4) Save on late fees and accruing additional interest– Bankruptcy also may also allow you to pay off your existing debt balances without incurring additional interest or penalties. 5) Keep you home or car– Bankruptcy can often allow you to keep necessary assets such as you home and car. If you are you are facing a foreclosure action, the filing of bankruptcy may allow you to keep your home or if surrendered, prevent you from owing money on a default judgment.

These are all important advantages of filing bankruptcy. We will look for the best options to fit your specific financial situation. Call today.