If you are struggling with debt, you are not alone. As bankruptcy attorneys who have guided clients through the bankruptcy process for three decades, we have seen a great many people find themselves unable to keep up with debt and interest payments. Unfortunately, many people choose to allow these struggles to continue for far too long, unaware of the benefits and relief that bankruptcy offers. We want you to be aware that there are legitimate reasons to file bankruptcy now.
· Ignoring a debt spiral does not make it go away. The longer you wait to truly address overwhelming debt, the worse it will get. Some people try to keep up with payments with near-sighted financial decisions, like selling their property, cashing out their retirement, or using credit cards to pay off other credit cards. If done right, bankruptcy can allow you to keep your property while discharging your unsecured debt.
· Debt struggles take an emotional toll. In addition to the stress, anxiety, sadness, and anger that come with trying to stave off aggressive creditors and pay down debt, prolonged debt problems can put a serious strain on your relationships. Bankruptcy offers an automatic stay to stop creditor action at the outset of the case, and then provides a path to discharge all qualifying debt. In the case of a Chapter 7 bankruptcy, your debts can be discharged within months. This allows you to lift the emotional weight of that debt from your shoulders so you can move forward.
· Creditors can, and will, file lawsuits to get your money. If you fail to seek bankruptcy relief in a timely manner, creditors may seize on their opportunity to sue you and obtain a court order against you. This judgment can have serious financial repercussions, like seeing your wages garnished. Bankruptcy can halt, then eliminate these pending lawsuits if filed in a timely manner.
· The timing of bankruptcy matters. If you are facing foreclosure or eviction, bankruptcy proceeding can provide a path to stay in your home, or to minimize the financial detriment of walking away from your mortgage. Additionally, your financial circumstances now may not be the same as a year from now, or two years from now, and while you qualify for bankruptcy relief now, the same may not be true in the future. An attorney can help you navigate the timing of your bankruptcy filing based on your circumstances.
You Need a Bankruptcy Attorney
Debt struggles can be an emotional trauma that affects all aspects of your life. You deserve some relief, and should immediately take steps to move yourself forward. At Levitt & Slafkes, P.C., our attorneys have decades of legal experience in the bankruptcy courts. With a reputation of excellence and with years of proven results, we want to help you develop a custom tailored roadmap to obtaining debt relief. Call Levitt & Slafkes, P.C. today at (973) 323-2953, or reach us online to schedule a free consultation.
We are proudly designated as a debt relief agency by an Act of Congress. We have proudly assisted consumers in filing for Bankruptcy Relief for over 30 years.