Living under a pile of unmanageable debt is incredibly stressful, impacting everything from your job performance to your relationship and even your health. Struggling to keep up with your bills only to fall further and further behind can feel like a hopeless situation, especially with creditors sending notices, making harassing phone calls, or initiating collections against you. Fortunately, filing for bankruptcy protection can give you the financial relief you need and allow you to reclaim your life.

Why Turn to Bankruptcy As a Solution?

1. The Automatic Stay

Submitting a chapter 7 or chapter 13 bankruptcy petition immediately invokes an automatic stay, which puts a stop to all collections activities on the part of your creditors. This includes letters and unpleasant phone calls, as well as wage garnishments and lawsuits. For many debtors, filing for bankruptcy is worth it for the peace provided by the automatic stay.

2. Discharging Your Debts

Filing for a chapter 7 bankruptcy allows you to discharge most unsecured debts, giving you the chance to start your financial life over again. The same accounts can also be eliminated in a chapter 13, which also provides the opportunity to catch up on secured debts, potentially allowing you to keep your house or vehicle.

3. Rebuilding Your Credit

Many borrowers who could benefit from such protection hesitate, worried about the effect of filing on their credit. While declaring bankruptcy will lower your score, it also makes it possible to start rebuilding it right away, without the continual drag of missed payments and accounts in collections.

If you’re struggling with debts you cannot repay, the bankruptcy attorneys at Pearce Law Firm in Foley, AL, will help you achieve the financial relief you desperately need. They pride themselves on their in-depth understanding of the legal code and their unwavering dedication to the welfare of their clients. To learn more about their services and to schedule a consultation, visit their website or call (251) 971-2676 today.