How Bankruptcy Services Can Help You With Your Financial Troubles
If mounting debt has made you feel trapped with no way out, bankruptcy services may offer you the right solution. These services can help you reclaim your financial freedom so that outstanding debt amounts won't continue to haunt you. Here are some of the main ways that bankruptcy services can help you with your financial troubles.
Ensure You Qualify for Bankruptcy
In order to file for bankruptcy, you must meet certain eligibility requirements. Your bankruptcy services provider will review all the eligibility requirements with you to make sure that you are eligible before submitting your petition for bankruptcy. You will also be informed of the specific bankruptcy chapter under which you qualify so that you can file all the appropriate paperwork for your case to be processed correctly.
Settle Debt with Lenders
If you qualify for bankruptcy, you won't have to pay any more money on outstanding debts that you owe. As Investopedia.com explains, about a month after you file for bankruptcy, you will be required to attend a 341 meeting before a judge to discuss the reasons why you are choosing this option to settle your debt. If any lenders or their attorneys wish to be present at the meeting, a bankruptcy law service provider will try to work out an agreement with the lenders that releases you from all liability. Not having to repay the debts will alleviate your financial burden and help you get a new financial start.
End Harassment from Collectors
Bill collectors who are hired by the lenders to try to collect the money that you owe may be harassing you with threatening phone calls or notifications by mail. In addition to calling you at home, these collectors may try to reach you at your job, which can create embarrassing situations for you with your boss and coworkers. After your bankruptcy case has been settled, you won't have to worry about hearing from these collectors anymore.
Save Property from Repossession
The bankruptcy law service representative who you hire will take measures to make sure that you are able to keep as much of your property as possible. Filing for bankruptcy does not mean that all your property will need to be surrendered to creditors, and your representative will work to save your items from repossession. Bankruptcy services may even save you from having to give up your home or vehicle.
If you believe that filing for bankruptcy will be your best option, bankruptcy services are available to offer support throughout the entire process. Utilizing these services can help you sort through many of the complicated details of the bankruptcy filing process and allow you to proceed in a more orderly fashion.