Bankruptcy may be the best option if you are dealing with a lot of financial problems. You may not be able to get out of debt on your own. That is why it is a good idea to file for chapter 7 bankruptcy. Chapter 7 bankruptcy attorneys Valdosta are committed to helping you get back on your feet financially. There are several reasons that you should file for chapter 7 bankruptcy.
Discharge Your Unsecured Debt
When you file for chapter 7 bankruptcy, an automatic stay will be issued. This will prevent your creditors and debt collectors from contacting you. Once this automatic stay is issued, you will no longer be obligated to pay off your unsecured debt. High interest credit cards, medical bills and other types of debts that are not secured by collateral will be wiped out.
Keep in mind that there are certain debts that you won’t be able to discharge in bankruptcy. This includes alimony, child support and taxes. However, if you can get rid of the majority of your debts, then your life will be a lot easier. You won’t have to worry about wage garnishment, lawsuits or harassing phone calls.
Quick Process
It can take you up to five years to get through chapter 13 bankruptcy. However, chapter 7 bankruptcy can be completed in just three to five months. Chapter 7 bankruptcy attorneys Valdosta are committed to making sure that this process goes as smoothly as possible.
Start Rebuilding Your Credit Immediately
Chapter 7 bankruptcy is one of the worst things that you can have on your credit report. However, you will be able to start re-building credit immediately after you get your debts discharged. In fact, many people are able to start rebuilding their credit within a year of filing for bankruptcy. You may be able to get a loan or credit card, but the interest rates will be a lot higher.
