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:
- Discharged 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.