Benefits of Filing for Bankruptcy
Debt is stressful, and for many people, it’s also embarrassing. Unfortunately, that embarrassment sometimes keeps people from doing what would help them the most. If you’re getting harassed by creditors and can’t keep up, consider the benefits of filing for bankruptcy.
Top Benefits of Filing Bankruptcy in Ohio
Bankruptcy allows you to seek debt relief from certain types of debt, including credit card debt, tax debt, or debt from unpaid medical bills. If you’re considering the pros and cons of filing for bankruptcy, getting out from under the stress of creditor harassment should be at the top of your list of bankruptcy benefits. Filing for bankruptcy can allow you to:
- Stop Creditor Harassment – Under U.S. bankruptcy law, creditors cannot keep harassing you about your debts once you’ve initiated bankruptcy proceedings. That means no more phone calls.
- End Wage Garnishments – If your wages have been garnished to pay off your debts, filing for bankruptcy will put a stop to the wage garnishments, allowing you to regain some financial flexibility.
- Get a Fresh Start – The purpose of bankruptcy is to give debtors a fresh start so they can get back on their feet, rebuild credit, and improve their credit report without being dragged down by old debt.
- Create a Manageable Debt Repayment Plan – Under a Chapter 13 bankruptcy, you can create a manageable debt repayment plan that will allow you to reestablish your financial stability.
- Ease the Burden of Back Taxes – Bankruptcy can also ease the burden of paying back taxes. The Internal Revenue Service lists bankruptcy as an option for taxpayers unable to pay their federal tax debt. Bankruptcy cannot discharge all types of tax debt, but it is still an excellent way to reduce what you must pay the IRS.
- Prevent Repossession and Foreclosure – Bankruptcy protects you from repossession and foreclosure, and it can be an effective way to protect your personal property when you are struggling with debt. In Chapter 7 bankruptcy, you may lose some assets, but you may be able to retain your home. You can protect your home in Chapter 13 bankruptcy, which allows you to create a repayment plan to repay creditors.
Why Hire a Local Akron Attorney for Bankruptcy?
If you’re considering filing for bankruptcy in Akron, Ohio, it makes sense to hire a local Akron attorney to represent you. We’re familiar with the district bankruptcy court, we know the judges, and we have experience with the bankruptcy process. A skilled bankruptcy attorney can help you in several ways, including the following:
- By providing legal advice from someone familiar with bankruptcy law
- By filling out paperwork for you, ensuring that you avoid mistakes when you declare bankruptcy
- By representing you at the 341 Creditors Meeting
- By representing you in bankruptcy court
- By handling all negotiations for you
We know how stressful it is to be in debt. An experienced bankruptcy law firm can help you get out from under that stress. Let the bankruptcy professionals handle your bankruptcy filing for you.
Contact Our Akron Bankruptcy Lawyers for a Free Consultation
Amourgis & Associates, Attorneys at Law, is an Ohio consumer law firm focused on helping ordinary people overcome their financial difficulties and get a fresh start in life. If you’re feeling overwhelmed and stressed out by debts, contact us for a free consultation immediately with an experienced bankruptcy attorney.
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At Amourgis & Associates, Attorneys at Law, we only represent consumers. We fight for regular people who have been seriously hurt in accidents. We fight for people who are being crushed by overwhelming debt and need a fresh start. We fight for individuals and families. Never businesses. Never insurance companies. We are loyal to the consumer.
