Not everyone who can’t pay their bills is simply a deadbeat who is just trying to get away with something, nor are they irresponsible and people who can’t manage their money. It’s easy to tell people to live within their budget, but sometimes, there isn’t enough money to get through the month. Even the most frugal person who isn’t just shopping for unnecessary items with credit cards can be hit with unexpected emergency expenses. The most responsible person may be hit with an unavoidable circumstance like a job loss, divorce, or medical bills. When there isn’t enough income coming in to catch up, one option you have is to talk with a bankruptcy attorney in Norwalk.
A bankruptcy is considered a last resort by many, as it can stay on your credit record for up to ten years. However, in the end, a bankruptcy on your credit record may not look as bad as a string of bad debts that drag on for years. As a Bankruptcy Attorney will tell you, it doesn’t have to be considered devastating. While filing for bankruptcy is a serious decision, it also gives you a fresh start.
A bankruptcy can stop bill collectors from calling you at home and at work. Under the Fair Debt Collection Practice Act, you can write to each collector and request that they cease from calling you any further, but preventing them from calling you doesn’t erase your bad debts. Once you file for bankruptcy, you can give each creditor your attorney’s name and phone number, and they will have to leave you alone.
A bankruptcy can eliminate credit card debt, medical bills, student loans as long as they’re not federal student loans, back rent, car payments, and wage garnishments. Ask the attorney for the specifics of what happens if you have lawsuits, judgments, and back taxes due. Even if certain debts are not eligible for discharge under the bankruptcy, just letting go of credit card bills and medical bills alone may free up the funds you need each month to make payments on federal student loans and back taxes. Your attorney will look at your situation and give you the information you need to decide if bankruptcy relief is right for you. Click here for more information.
