When your debt has consumed so much of your life that it’s causing stress, or making it incapable for you to survive financially, filing for bankruptcy may provide you with some relief. Despite the negative reputation that is out there about bankruptcy, it is frequently the best option for those looking to find an effective solution to their financial woes. Depending on your current financial status, Dodge City KS Bankruptcy Lawyers are able to help you stop those collection calls and get a fresh start.
Prevent or Prolong Foreclosures
When you’re backed up on mortgage payments, your mortgage provider will likely send you a notice to foreclose. This is often very devastating and difficult to deal with. However, by filing for bankruptcy, many homeowners have been able to prevent the foreclosure process with structured payment plans. Others have been able to put the foreclosure process on hold and eventually use the funds that were once going to creditors to pay off their mortgage debt.
Get Rid of Credit Card and Unsecured Debt
Everyone has been trying to stay afloat in these rough economical times. When trying to keep a roof over your head and food on the table, sometimes bills fall by the wayside. Once they pile up, trying to pay them off can take forever and result in adverse actions from creditors. Filing bankruptcy can eliminate or significantly reduce all of your credit card and unsecured debt. They can also stop any lawsuits, wage garnishments, and judgments against you.
Give You a Fresh Start
More than anything, filing bankruptcy can provide you with a fresh start. Even though a bankruptcy filing will show up on your credit report for seven to ten years, it wipes the slate clean with all other negative reports that have been filed against you. This allows you to rebuild your credit and start fresh by paying your secured debts in a timely fashion to reflect positive markings on your credit report.
If you want to stop a foreclosure, repossession, collection calls, or any other types of legal judgment against you regarding outstanding debt, you should consult with Dodge City KS Bankruptcy Lawyers. Visit website to learn more about filing bankruptcy and how it might benefit you and your financial future.
