Chapter 7 bankruptcy is one of several types of personal bankruptcy that an individual drowning in debt can file to help alleviate some of that burden. It is one of the most popular types of bankruptcy filed in U.S. courts. But, why are people seeking debt relief through chapter 7 bankruptcy RI more than other relief types? Because it works well! Some of the most common reasons people file include:
· Stop Creditor Calls: If you decide to file protection under the bankruptcy laws of the United States, you are protected from creditor calls and collection attempts. If you’ve been harassed by creditors or are currently facing that hardship, you understand how relentless these people can be. You can get back your sanity when you file for protection.
· Fresh Start: Chapter 7 wipes out all of the debts that you’ve incurred (with the exception of government-related debts) and gives you a fresh start. Many people fail to realize the importance of their credit until it is too late. Now there is a second chance.
· Stop Repossessions: If you want to keep a vehicle that is at risk of repossession or maintain other valuables, this is the easiest way to do so.
· Peace of Mind: When you’re drowning in debt, it is difficult to eat, sleep, or otherwise enjoy life as you should. It seems that nothing you do will help you get out of the mess that you’ve created. Rather than continue life stressed to the max, why not talk to an attorney to learn how you can get help from Chapter 7?
There are several reasons why this debt relief option might be best for your financial situation. Talk to an attorney to learn more and to learn if bankruptcy is beneficial to your needs.