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Photo of attorneys Shelley Slafkes and Bruce Levitt
Photo of attorneys Shelley Slafkes and Bruce Levitt
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How Bankruptcy Can Improve Your Health

On Behalf of | Sep 19, 2014 | Bankruptcy Basics

When you are facing financial troubles, it can result in a wide variety of emotions. Financial distress often causes embarrassment, depression, shame and anger. Allowing these emotions to build and go unresolved can have a significant negative impact on your health.

Many people view filing bankruptcy as a “last resort.” It is normal for you to want to avoid filing a case, but once you acknowledge the trauma your family is experiencing by being overwhelmed with debt, bankruptcy may be the best gift you can give yourself.

Whether you file a Chapter 7 or Chapter 13 case, you will be able to comprehensively deal with all of your debt. In other words, all of your creditors will be included in the filing, allowing you to obtain true debt relief. Many individuals feel not only a sense of relief once they have filed their case, but a sense of power that they are taking control of their financial situation.

As soon as you file a personal bankruptcy, all collection efforts against you must stop. This includes harassing telephone calls from debt collectors, garnishments, lawsuits, and other similar actions. You might be surprised at how emotionally exhausting dealing with debt collection matters has been for you. Filing bankruptcy can give you peace from the debt collection storm.

It is important to educate yourself regarding the bankruptcy process. Don’t let false information about bankruptcy cloud your judgment. Bankruptcy does not ruin your credit for the rest of your life. In fact, you can start rebuilding your credit as soon as you obtain your discharge order. The whole world will not know about your filing – only your creditors receive notice of it. And, you are not alone. More people than you may realize are filing for bankruptcy protection every day.

We understand the emotional turmoil you are going through. It is important for you to see your bankruptcy filing as a path to a new beginning. A Chapter 7 or Chapter 13 can be the first step you take in restoring your financial stability. If you are ready to take this step or to learn more about how a personal bankruptcy could benefit you, contact us today.

If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, P.C., at 973-323-2953. You can also reach us by filling out our online form. We represent debtors in Chapter 7, Chapter 13 and Chapter 11 filings. Let us help you get the fresh financial start you need today.