There are many reasons to why bankruptcy is the best choice to deal with your debt issues. Here are the top 3.
1.) Filing bankruptcy is the fastest way to get all of your creditors instantly off your back.
There is no faster way to stop the lawsuits, harassing calls and threatening letters than to file bankruptcy. When you file bankruptcy the automatic stay forbids all collection actions from creditors. If they violate the automatic stay, you have a right to sue them in bankruptcy court for that violation.
2.) Filing bankruptcy is the fastest way to be debt free.
There is no quicker way to go from $10,000 to $200,000 in unsecured debt (credit card, loans, etc.) to ZERO debt.
3.) Filing bankruptcy is the fastest way to rebuild your credit and have a good credit score.
This is the surprise that few people know about. For nearly everyone, filing bankruptcy will allow you to have a good credit score (700+) faster than any other means (debt management plan, debt consolidation, and debt settlement). It will also be the fastest way you can purchase a new home. FHA and VA home loans 2 years after bankruptcy.
There are many other reasons why a bankruptcy is almost always your best option. It’s the most cost effective way to deal with your debt. Most of our clients pay less than $1,500 in total for a chapter 7 bankruptcy case. It’s a process that has strict rules and processes….so if you qualify, your case is essentially guaranteed for success. A Chapter 7 case only takes about 3.5 months on average from filing to completion. Bankruptcy will not be a constant drain on your family and friends (if you are borrowing money now to pay your debt). Some of them are explored in our bankruptcy blog posts. However, the best resource is having a free bankruptcy consultation with an experienced bankruptcy attorney. Contact us to schedule your free consultation today.