Put Your Financial Struggles Behind You With a Personal Bankruptcy Filing
Most of us make some resolutions in January, but statistics show they can be difficult to maintain. If you’ve been facing financial challenges for most or all of 2024, there’s a simple step you can take that has the potential to turn your life around. With the assistance of an experienced personal bankruptcy attorney, you can take advantage of U.S. bankruptcy law to get a new lease on your finances. It’s a resolution you can keep that will pay dividends for the foreseeable future.
Making the Decision to File for Bankruptcy
Like most things in life, the decision to seek protection in bankruptcy can be both appealing and intimidating. We understand there can be a stigma attached to bankruptcy, but typically that comes from those who’ve never been hit with a string of misfortune. The reality is that many famous and successful people have sought protection under the bankruptcy law, including at least two presidents and Walt Disney.
There’s also the perception that filing for bankruptcy will require you to spend the rest of your life paying for everything with cash. That’s simply not true. While it may take a little while to reestablish your credit, it’s often done. In fact, many lenders consider bankruptcy a positive step, an acknowledgment of your situation and a sign that you want things to be better.
What Can a Personal Bankruptcy Filing Do for You?
First and foremost, it gives you an opportunity to breathe. When you file a Chapter 7 or Chapter 13 petition, an automatic stay immediately goes into effect, putting a stop to all collection efforts outside of the bankruptcy proceeding. That means no phone calls or letters from creditors or collection agencies, and no legal filings against you other than those in the bankruptcy court.
Depending on the type of bankruptcy you file, you may be able to permanently rid yourself of certain debts, or you may need to negotiate new payment arrangements with your creditors. The automatic stay remains in place until your bankruptcy is final (which may be up to 5 years with a Chapter 13).
Contact an Experienced Rockwall, TX Bankruptcy Attorney
At the Law Offices of Carrie Weir, all potential clients are entitled to a free initial consultation. To arrange an appointment to discuss your rights and options in bankruptcy, contact my office online or call 972-772-3083. I handle Texas personal bankruptcy filings in Kaufman County, Rockwall County, Collin County, Dallas County, Hunt County, and the surrounding counties.
