Tuesday, August 16, 2016

Can I File Bankruptcy And Keep My Stuff Without Paying?

With all of the information available on the internet or from well-intentioned friends it is easy to end up with conflicting data on important issues. After all, we all know someone who has taken to WebMD when they feel sick and then self-diagnosed their illness, only to find out that what they have is relatively minor and not the life threatening disease the internet search revealed. If you are facing a hardship and need help, it is best to seek the advice of a trained professional in the area. By asking a pro you can rest assured the information you obtain is accurate and this will enable you to take further action that is appropriate.

One common misperception about bankruptcy is that you can keep all of your things and not have to pay. People who file cases without the aid of a qualified bankruptcy attorney often make this mistake and then are surprised when their car is repossessed or when they receive notice of a foreclosure on their home. The plain truth is that bankruptcy is not designed to let you keep things without paying for them, but bankruptcy does offer some pretty great benefits. For instance:

         In many cases unsecured debt is eliminated or at least reduced to pennies on the dollar. This can save you hundreds or thousands of dollars and allows you to pay for only what you want to keep.

         Creditors are not allowed to call you and ask for payment once you file a case.

         All collection efforts have to stop when you file bankruptcy; this means no more lawsuits and no more garnishments.

         The debts that are discharged at the end of your case are no longer due, ever!

The rules of bankruptcy are complex and if you don’t follow them properly you do not receive the benefits. This is why it is so important to partner with an experienced and qualified bankruptcy attorney for your case. Allowing someone with the knowledge to get your case filed right takes the stress off your shoulders and gives you the reassurance you need that your finances will soon be fixed.

If you have more questions about bankruptcy, contact us today at www.law-ri.com. We will help you come up with solutions that work for your family, and have multiple locations where we schedule appointments so you can make a choice that is convenient for you.

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