Hillside, Connecticut

3 Benefits of Filing for Bankruptcy October 26, 2016

Hillside, Waterbury
3 Benefits of Filing for Bankruptcy, Waterbury, Connecticut

Many people are vaguely aware that filing for bankruptcy provides some powerful advantages for people drowning in debt, but they aren't always sure exactly what benefits this process offers. To help you decide whether you should file a bankruptcy petition, Eugene S. Melchionne Attorney at Law in Waterbury, CT, would like to explain how bankruptcy can help you reclaim your life from debt.

After a successful filing with the help of a bankruptcy lawyer, you can expect:

  • bankruptcy-lawyer-Waterbury-CTDischarged Debts: For most borrowers, the most attractive result of filing for bankruptcy is the elimination of most unsecured debts. In exchange, the bankruptcy trustee may seize some of your assets to pay back some of your creditors, but a skilled bankruptcy lawyer will help you keep as much of your property as possible.
  • An End To Creditor Harassment: Both types of consumer bankruptcy offer an automatic stay, which puts an immediate end to all collection activity. Not only will this end harassing phone calls and annoying letters, but it will also stop wage garnishments, lawsuits, and repossessions.
  • A Chance To Start Again: It's not uncommon for people to hesitate when considering filing for bankruptcy due to worries about the potential impact on their credit score. However, many borrowers find they can begin rebuilding their credit right away and will have money available to start saving and investing for the future. In the long run, bankruptcy can be much less damaging than having multiple delinquent accounts calculated into your score.

For over 30 years, Eugene S. Melchionne Attorney at Law has been helping Connecticut residents get a second chance at life with a broad array of high-quality debt relief services. To learn more about the benefits of bankruptcy and schedule a consultation with this highly skilled lawyer, visit his website or call (203) 757-3437 today.

Other Announcements, Events and Deals from Eugene S. Melchionne Attorney at Law
How a Chapter 7 Bankruptcy Attorney Helps You Avoid Disastrous Results, Waterbury, Connecticut
Filing for Chapter 7 bankruptcy is not a scenario hardworking individuals typically anticipate. A sudden illness, loss of employment, or other unexpected financial setbacks can ...read more
3 Advantages of Bankruptcy for Elderly Borrowers, Waterbury, Connecticut
Because they live on a fixed income, senior citizens are especially vulnerable to credit card debts, which can quickly spiral out of control. For many of these elderly borrowers, ban...read more
What Kind of Debt Can Chapter 7 Bankruptcy Discharge?, Waterbury, Connecticut
Although bankruptcy can give you a fresh financial start, it’s important to understand what types of debt you can and cannot discharge. Filing for Chapter 7 bankruptcy can help ...read more
How Filing for Bankruptcy Will Affect Your Spouse's Credit, Waterbury, Connecticut
Despite the numerous advantages of filing for bankruptcy, many married borrowers hesitate. While you may be willing to accept the consequences that come along with bankruptcy protect...read more
Struggling With Student Loan Debt? Find Relief With These Options , Waterbury, Connecticut
The rising cost of post-secondary education means student loan debt can climb into the six-figure range. Fortunately, relief is available. The federal College Cost Reduction and Acce...read more