The Pros of Filing for Bankruptcy
Choosing to file for bankruptcy is a big decision that carries many pros and cons with it. Filing for bankruptcy can get creditors off your back, discharge all or most of your debts, put you back on your feet financially, and let you start over. However, filing for bankruptcy is not the right move for everyone, consult with a local bankruptcy attorney about your legal options.
Some upsides commonly associated with filing for bankruptcy include:
- Filing for bankruptcy will initiate an automatic stay that immediately stops your creditors from taking collection actions against you (this means that the harassing letters, phone calls, etc. will stop),
- If certain conditions apply, you may be able to go through the bankruptcy process without losing any of your property,
- Under federal law your employer is not allowed to discriminate against you based on the fact that you filed for bankruptcy,
- Some debtors actually emerge from bankruptcy with a better credit score than they had before they filed, and
- Most importantly, filing for bankruptcy can discharge many (if not all) of your debts and enable you to regain control of your finances.
Considering Filing for Bankruptcy? Contact a Local Bankruptcy Attorney
Here at the Noyes Law Office P.C. our experienced Southeast Iowa bankruptcy and debt relief attorneys understand how challenging it can be to take the plunge and file for bankruptcy protection. We also understand that filing for bankruptcy is not the right move for everyone. Therefore, we offer prospective clients a free no obligation initial consultation during which one of our knowledgeable attorneys will review your financial situation, discuss the processs of filing for bankruptcy, and advise whether or not filing for bankruptcy is a viable option for you. To schedule your consultation, contact our Fairfield office today at (641) 472-3236.