Benefits of Bankruptcy
Benefits of Bankruptcy in Mesa, AZ
Mesa Bankruptcy Attorneys
Filing for bankruptcy does not mean that you will lose everything or even anything. On the contrary, by filing for bankruptcy protection, you stand to gain freedom from the overwhelming debt and worry you have been experiencing every day. Bankruptcy wipes your slate clear and gives you the opportunity for a fresh start. With the assistance of our Mesa bankruptcy lawyers and helpful legal staff, we will work with you to determine what assets you will keep and how we can assist you in moving forward to rebuild your credit.
Filing for bankruptcy also carries some negative connotations in today’s society. Filing for chapter 13 or chapter 7 bankruptcy can have some very negative effects on a person’s life. Much of the negative effects of filing for bankruptcy protection are centered on the issues of damaged credit, difficulties in obtaining loans, higher interest rates, or living under a court-approved debt repayment schedule. The negatives can seem overwhelming and can sometimes overshadow the relief and benefits obtained by filing bankruptcy in Mesa. While it is true that bankruptcy is not without its costs it is also very true that most people have suffered for years under crushing debt without relief before turning to bankruptcy. Unlike days of old where debtors were heavily punished or imprisoned, we recognized today that people deserve the chance to make a fresh start. The bankruptcy laws exist in order for you to make a change in your life and to get out from under old burdens. To really understand all of the benefits of bankruptcy and to put them in better perspective versus the negatives of filing for bankruptcy, it would probably be best explained in a free, no obligation consultation with a Mesa bankruptcy lawyer from My AZ Lawyers, PLLC who can guide you on this matter and give you examples of the many benefits of filing for bankruptcy in Mesa, Arizona.
Bankruptcy Lawyers Serving Mesa, Arizona
A discharge, or a release of a debtor from personal liability for their consumer debt, (including credit card debt, medical bills, personal unsecured loans), is one of the many benefits you will get when you file for chapter 7 bankruptcy in Mesa, Arizona. For those who don’t qualify for chapter 7 bankruptcy protection, they can get the debt relief they need through filing chapter 13 bankruptcy, which has the benefit of allowing you to keep your property and pay off outstanding obligations over a 3 – 5 year period at a rate that you can afford. In either case, you will find that you will begin noticing the benefits of filing bankruptcy within days.
Once a Chapter 7 or Chapter 13 bankruptcy is successfully completed, all of your debt that was eligible to be discharged under bankruptcy laws has been eliminated. You can immediately begin to rebuild your credit rating. The bankruptcy process has you receive credit counseling, using some of the tools you’ve gained from the credit counseling will be very beneficial in helping you get a fresh start. We look forward to helping you with this process and know we can successfully assist you, as we have done for numerous other clients in Mesa, Arizona.
The Advantages of Filing Bankruptcy in Mesa, Arizona
Becoming debt free can seem like an impossible reality to individuals and families that are being hounded by creditors. When creditors are harassing you for payments, initiating legal actions, and threatening foreclosure or repossession life can seem like a real drag. Filing for bankruptcy (either chapter 13 or chapter 7) can bring considerable relief by putting an immediate end to collection actions, including:
- Stopping creditor calls
- Discontinuing on-going wage garnishments
- Stopping creditor lawsuits against you.
- Halting any foreclosures that may have been initiated
- Terminating any repossession actions against your property
Our Mesa bankruptcy law firm has been extremely successful in guiding people through the bankruptcy filing process. We work with our clients to assure that they get back on the road to financial viability. We will thoroughly review your finances to help you determine if filing for bankruptcy in Mesa, Arizona and Maricopa County, Arizona is the best course of action for your circumstances.
Find out the benefits of filing bankruptcy in Mesa, Arizona