What Are The Benefits of Bankruptcy?
There are four primary benefits to filing for bankruptcy. They include: Automatic Stay Once you file for bankruptcy, your creditors are barred from taking any further collection action against you, including phone calls, letters, lawsuits, repossessions or mortgage foreclosures. Debt Discharge Once your bankruptcy is complete, most or all of your debts will be resolved. Even if you have ineligible debts left over, you will likely be in a better position to address them than you were before bankruptcy. Catching Up On Past Due Payments If you file for Chapter 13, you will…Read more
