Benefits of Bankruptcy

Many people who are struggling to get by under their crippling debt refuse to consider bankruptcy as a viable, helpful option. This is because those people often believe that bankruptcy has far too great of a cost to outweigh the upsides. However, what these people don’t realize is the benefits of declaring bankruptcy can be immense and help put you on the path to financial freedom and security.

When you call the Buchalter & Pelphrey Attorneys At Law, our Brevard County bankruptcy attorneys handle your case with the utmost professionalism and tact, doing everything in their power to put you on the best possible path to financial freedom. When you face crippling debt, our team understands the stress and overwhelming strain you are under, and we can provide you with more than 50 years of combined experienced counsel to help you reach your financial goals. Our mission is to provide you with the fresh start you are seeking, and we individually tailor our advice and counsel to your exact needs to help you obtain it.

If you’re struggling with debt, call Buchalter & Pelphrey today at (321) 320-6088 and find out whether bankruptcy is the right choice for you with a free case evaluation!

How Bankruptcy Can Benefit You

It’s true that bankruptcy can have some consequences that you will have to live with for a while, but for many people who qualify to file either chapter 7 or chapter 13, the benefits of this action can significantly outweigh these costs.

Here are just a few benefits you may gain by declaring bankruptcy:

• Discharge from debts: While not every debt qualifies, you could find yourself freed from the burden of many of your debts once the Chapter 7 bankruptcy process is completed. Once your liquidated assets are sold off, your debts will be discharged and you’ll have a clean slate again.
• Protection from creditor harassment and collections: When you file bankruptcy, you’ll be given what is known as an “automatic stay,” which means debt collectors must cease all efforts against you. The phones will stop ringing, any legal actions issued against you will be lifted, and you will have the ability to think clearly and start restoring your financial standing without being constantly pressured by creditors.
• Retention of exempted property: “If I declare bankruptcy, I’m going to lose everything.” This is a common myth we hear from some potential clients. This is far from the truth: maximizing your legally-allowed exemptions can help you save many of your most important possessions, including your car and your house! Speak with an attorney who can help you maximize the use of your exemptions.
• Rebuild credit ratings: Bankruptcy gives you the chance to eliminate most, if not all, of your debt, which can be pivotal when trying to improve your credit score. While there is an immediate impact on your overall rating, many people who remain diligent about paying off their debts after declaring bankruptcy see a dramatic improvement in their score in just a few short years.

These are just a few of the benefits you can obtain by declaring bankruptcy. Learn about more of them or find out if bankruptcy is the right choice for you by contacting Buchalter & Pelphrey now!