Why File Bankruptcy?
Top 5 Reasons
Many people ask, “Why file bankruptcy anyway?
What is the benefit to filing for bankruptcy?”
As you may already know there are
some very powerful benefits when filing bankruptcy.
And when you and us get together as a team we can accomplish great things...
Working As A Team Makes It Easier On The Individual
I'll get to the top 5 benefits in a minute.
But first you should also realize that there are also some negatives when filing bankruptcy. Maybe you already know about some of these.
Some of the negatives include...
- having a bankruptcy on your credit report for several years
- the possibility of needing to sell some property
- paying a high interest rate on any new loans you create
- time involved with gathering your paperwork and meeting with your Bakersfield bankruptcy lawyer (I assure you, we make this as painless as possible...we're on YOUR side and we work as a team to make it easier on you).
We'll answer all those tough questions when you call for your free consultation.
Call us now at...
Or fill out the form below...
As many have discovered, the benefits of filing for bankruptcy often outweigh the negatives...
Why File Bankruptcy?
Below I've outlined the top 5 ways that filing bankruptcy may benefit you.
Not everyone needs to file. You may have a better option. None the less, if you decide to file for bankruptcy you'll probably do it for one or all of the following reasons...
1. PROTECTION FROM COLLECTORS
If you've got debt collection agencies breathing down your neck, bankruptcy can put it to a stop fast!
Many people who are having financial difficulties get daily calls from debt collectors, credit card companies, and other lenders (or their representatives).
These collectors can run the gamut from polite to viscous. They might threaten you with foreclosing on your home, putting a huge lean on your property, or repossessing your car and other personal items.
While all of this can be very stressful, I want you to take a deep breath and relax a little...
- First of all, realize that these people are not always honest. The threats may sound believable but often are just empty threats. After all, hired collection companies don't get paid unless they can get some money from you.
- Secondly, they don't have total power to just come and take your stuff.
The good news is that filing for bankruptcy makes it illegal for collectors to contact you.
Imagine, no more obnoxious phone calls or threatening letters.
So, that's benefit #1...Protection from collectors.
Another answer to “Why file bankruptcy?”...
2. ELIMINATION OF DEBT
Would you like some, or even ALL, of your debt to go away? Bankruptcy often accomplishes that.
It doesn't happen for everyone though. It depends on your current financial situation...
- How much are you earning?
- What are your expenses?
- How much debt do you have?
- What kind of debt do you have?
During your free consultation we'll ask a few very simple questions and let you know how much of your debt can be erased.
3. A FRESH START WITH NEW CREDIT
Not only can your debts be wiped away but there are plenty of credit card companies and other lenders that understand your predicament...
They're looking for people just like you who have declared bankruptcy and want to start fresh with new credit accounts.
These credit companies can help you build your credit report back up and even get a new car loan or house mortgage shortly after declaring bankruptcy.
It's a MYTH that filing bankruptcy in California will prevent you from getting any kind of credit for 7 to 10 years. It's not true.
Bankruptcy can stay on your credit report for a few years but with some special lenders who are willing to work with you -- and some diligent credit management on your end -- you'll be rollin' in a limo in no time.
It's nice to know people are still willing to put trust in you even with a bankruptcy on your credit report.
So, asking, “Why file bankruptcy?” is a good question. And even though having a bankruptcy on your credit report is a definite negative, it doesn't destroy your opportunity to get credit in the future.
We can help you get going with your fresh start.
4. KEEP YOUR IRA
If you have money in an IRA (Individual Retirement Account) you may get to KEEP IT!
5. RELAX
Once the debt collectors stop hassling you, and once some (if not all) of your debt is erased, you can finally relax. Filing bankruptcy can really be a huge relief!
So, dealing with the threatening phone calls and letters can create a lot of stress in your life.
What if it all stopped? How would that feel?
Why File Bankruptcy With A Bakersfield Bankruptcy Lawyer?
Why File Bankruptcy?
As you've seen, filing bankruptcy in Bakersfield can...
- Stop creditors from contacting you
- Erase your debt
- Give you a fresh start
- Let you keep some cash if you have an IRA
- Get rid of some stress and finally relax
And that's not all...
We have more answers for those asking, “Why file bankruptcy?”...
Call us now for your free Bakersfield bankruptcy consultation to have all your questions answered...
Or fill out the form on this page so we can answer your questions.
