Declaring Bankruptcy In The New Year
A new year means a new start and it may be a great time to file for bankruptcy. While there are many stigmas associated with filing for bankruptcy, it can actually be the best thing that you can do for your finances. Here are some reasons to consider bankruptcy and help your financial future for the long term.
You do not have to pay off your tax debt from last year until the beginning of 2019. You can file for chapter 13 to pay off your tax debts. If you want to do this, then you will have to wait until the next year.
Stop Creditor Calls
Many people file for chapter 7 or chapter 13 because they are tired of the harassing phone calls. They are also tired of the thousands of letters that they get in the mail. You will be able to stop the harassing phone calls and letters after you file for chapter 7 or chapter 13. The creditors are required by law to stop contacting you.
Get Rid of Holiday Debt
The average spends more money during the month of December than any other time of the year. Many people use credit cards to pay for their holiday expenses. This can easily cause people to spend more than what they can afford. Many people find it necessary to file for bankruptcy as a first step toward breaking some bad spending habits.
Reduce Medical Debt
Medical bills are one of the many reasons that people opt to file for chapter 7 or chapter 13. Unfortunately, medical bills are not something that you can really prepare for. You never know when you may have to make an unexpected trip to the hospital. Even if you have health insurance, it may not cover all of your bills.
You can work with the hospital to set up a payment plan. However, if you find that this is still a burden and you can’t pay all your bills, bankruptcy may help.
Avoid Losing Your Home
If your home is being foreclosed, then you may be able to save it by filing for chapter 7 or chapter 13. You can also stop wage garnishment and car repossession. Additionally, you may be able to postpone utility disconnection and eviction if you file for chapter 7 or chapter 13.
Bankruptcy Can Help you Handle Student Loans
Student loan debt is one of the hardest debts to pay off for new graduates struggling to find work. If you file for Chapter 7 or Chapter 13, then you may be able to get some relief from student loan debt. You can get rid of some of your other debts, or defer payments which will make it easier for you to pay your student loans. You may also be able to get lower monthly payments over a longer term.
Bankruptcy Gives You a New Start
Find out more about Bankruptcy in our guide: All About Bankruptcy
Learn about the ways bankruptcy can help you. Contact us for a free consultation by clicking here or calling (912) 351-9000. We’re here to help you gain the financial freedom you deserve. The Law Offices of Barbara B. Braziel proudly serves the greater Savannah, GA area.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.
You don't have to worry anymore.
We are passionate about helping good, hard-working families like yours work out their debt problems. Many Georgia families have been overwhelmed due to the declining economy and find themselves with more credit card debt and student loans than they can manage. Credit card companies and banks are quick to send out credit cards and provide high limits but aren’t as helpful when things get tough. Also, creditors are often quick to sue when people get behind. We believe that helping you to settle these debts and in representing you by working with your creditors to stop the harassment. We believe that the old fashioned way of doing business is the best. We want to sit down with you so we can understand your needs and create a strategy to address them. Our purpose is to focus on each family right here is Savannah.