What Are the Pro’s and Con’s to Filing for Bankruptcy?
Bucks County Bankruptcy Pros and Cons
Many Bucks County residents, seeking bankruptcy information or looking to file for bankruptcy, are concerned about bankruptcy pros and cons. When a person is facing insurmountable debt, harassment, and oppressive collection calls, individual bankruptcy is frequently the best path to relieve their financial stress. The pros of filing bankruptcy are often obvious:
- You can get rid of unmanageable debt
- You can stop foreclosure, creditor harassment, property repossession and other creditor actions
- You can step into a future that is free from debt
- You can stop the freezing of your bank accounts
- You can stop harassment and constant phone calls from creditors
- You can keep your property, including your cars and home (very few people actually give up property when filing Chapter 7 bankruptcy or Chapter 13 bankruptcy)
- You can repair your credit immediately
The con’s are often myths. Most people believe you can never get credit again or you will lose all of your property. Neither are true! In most cases, individuals will be able to dramatically increase their credit scores (as they are relieved of so much burdensome debt) and, in typical situations, exemptions allow them to keep their property.
I discuss with each Bucks County client the pro’s and con’s of bankruptcy and strategize the best path to start fresh. Call me for a free, no-obligation consultation on filing for bankruptcy in Bucks County.
Why to File for Bankruptcy Information & More
Individual bankruptcy, whether through a personal bankruptcy in the form of a Chapter 7 or a Chapter 13, may be the only cost-effective and efficient way for you to manage your debt. Most of my clients are pleasantly surprised to see that the bankruptcy process takes months, not years. They are also surprised at how fast, after their bankruptcy, they obtain credit cards or a new car. Filing for bankruptcy can be a gateway to a better life, stress free, without the burden of oppressive debt. Please call me at your convenience to discuss bankruptcy pros and cons and the best strategy for your financial situation in Bucks County.
Common Tags: Bankruptcy Pros and Cons, Why to File, Filing, Information, Individual