If you have been tossing around the idea of calling a Chapter 7 bankruptcy attorney, but you are not sure whether bankruptcy is something you truly need and would benefit from, you will want to continue reading. There are some good reasons to file for this type of legal financial relief and it can come with many good benefits. Here are just a few of them:
You Won't Be Afraid Of Your Phone Anymore
Some people find themselves owing so much money to various creditors and collection agencies that they get collection calls all day, every day. This can be extremely frustrating for a lot of people and some people end up developing a lot of anxiety and feel panic whenever their phone rings. If you don't know when or how you can pay your creditors, you probably don't feel like talking to them. Once you file bankruptcy, all of the collection calls will cease.
You Can Finally Get Ahead
It can be difficult to pay all of your creditors, let alone save any money when your debt-to-income ratio is not looking good. If you have more monthly debt than you have income, you need to seriously consider speaking with an attorney. They might suggest that you file for Chapter 7 bankruptcy and that you do it soon. Once all of the debt is wiped out by the ruling of the courts, you can focus on maintaining your regular expenses. You might even get to the point where you can begin to save a little bit of money. This is important to do so that when an unexpected expense pops up, you will be able to pull money from your savings account instead of using a credit card or applying for a loan of some sort.
It Can Get Your Credit On Track
A lot of people are under the impression that bankruptcy will absolutely destroy your credit. However, if you are behind on all of your bills every month and you are being reported as delinquent to the credit agencies every single month, over time that will hurt your overall credit score much more than a bankruptcy.
Make an appointment with a Chapter 7 bankruptcy lawyer as soon as you can if you suspect that this is indeed something you want to move forward with. Do make sure that you are conducting a quick online review of the different bankruptcy attorneys in your area, as some might have better reviews than others. This is especially important if this will be your first time filing for Chapter 7 bankruptcy. You are likely to have a lot of questions about the process so you want an attorney that is easy to work with.
To find out more, contact a Chapter 7 bankruptcy attorney.