For many Americans who find themselves burdened with too much debt, Chapter 7 Bankruptcy may promise relief. Before filing for that option, get the advice of a good lawyer. You need someone on your side to guide you through the process. You want to protect your assets while getting as much of the debt as possible discharged. We can help you reach that goal.
The biggest disadvantage in filing is that bankruptcy will adversely affect your credit score. It will take at least seven years, and up to ten years, to get the blot off your credit record. However, properly executed bankruptcy can protect your financial future by averting foreclosure and/or stopping wage garnishment. It can enable you to keep the car you use for work and day-to-day necessities. It can also keep the utility company from discontinuing services you need.
Contrary to popular belief, it is possible to secure a loan after bankruptcy if you faithfully meet your obligations as set by the court. Under Chapter 7 Bankruptcy, you will not be able to get further debts discharged until at least eight years have passed.Bankruptcy Advice
No comments:
Post a Comment