Over the years, numerous misconceptions, myths and stigmas have surfaced concerning bankruptcy and its benefits. This has caused countless individuals to avoid taking advantage of the benefits bankruptcy can provide to help them alleviate their financial stress, get legal assistance with eliminating their debt, and once again get back on the road to financial stability.
Bankruptcy is a tried and true process which almost any individual who has found themselves on the edge of financial ruin, has the right to under federal law to get a second chance. One of the primary benefits of bankruptcy is that once you have filed for bankruptcy an automatic stay will be issued which bars your creditors from making any further collection attempts. Once your bankruptcy proceedings have been completed, your eligible debts will be discharged so you will be in a much better position to pay any remaining debts and get your financial situation back under control. For any person who files Chapter 13 bankruptcy, you will be able to benefit from the restructuring and consolidation of your debts, which will allow you to catch up on past payments while still being able to maintain key property and assets. Filing for bankruptcy will also give you a clean financial slate and allow you to rebuild your credit.
If you should find yourself wondering if bankruptcy is right for you, or if you find yourself saying "Do I need a bankruptcy lawyer to help with my financial situation?" we recommend you contact our law offices and speak with one of our skilled bankruptcy lawyers as soon as possible. Our experienced attorneys and staff understand the emotional and financial stresses associated with insurmountable debts. We have worked diligently over the years to help thousands of individuals navigate their way through the complex bankruptcy process so they can obtain relief from their stressful financial situations and get back to living life.
If you are considering filing for bankruptcy, contact a Detroit bankruptcy attorney at the Law Offices of Marshall D. Schultz today.