Have you recently found yourself facing foreclosure in Chandler, AZ? If so, don’t feel alone. In fact, approximately two million Americans receive foreclosure notices each year. Sadly, a large percentage of these homeowners do end up losing their home. However, some of them have been able to find ways to reduce their debt while still keeping their home by filing bankruptcy. However, even if bankruptcy seems like a good solution to your problem, it may not be. Therefore, be sure to take a look at some of the advantages and disadvantages of filing bankruptcy before contacting a lawyer.
One advantage of filing bankruptcy is that it may be able to stop your foreclosure in Chandler, AZ. It can also prevent your creditors from contacting you at work or at home. Filing bankruptcy, can also help you get rid of things like credit card bills and bills for repossessed vehicles. Another advantage of filing for bankruptcy is that you can have good credit again some day. Even though a bankruptcy filing will stay on your credit report for several years, you can start the rebuilding process right away.
Anyone can see there are several benefits of filing bankruptcy. However, before you file you need to be aware there can be some disadvantages, too. One disadvantage of filing for bankruptcy is that it may make it more difficult for you to obtain a job at banks and other financial institutions. Unfortunately, if you have a low credit score or have a bankruptcy ruling on your credit report, some employers will consider you high risk and may pass on offering you the job. Another disadvantage of filing bankruptcy is that you may not be able to get rid of some types of debt such as government student loans.
Filing for bankruptcy isn’t right for everyone, but many people feel they have greatly benefited from it. If you’re tired of dealing with a huge amount of debt and feel bankruptcy is your best option, you should contact Asheton B. Call today. His team is currently offering free consultations, so you can easily see if bankruptcy is right for you. During your free thirty-minute consultation, you will be able to discuss the bills you currently have, and he will advise you on the best debt relief path for you. So, if you’re ready to get started give the office a call or click here to visit their website.
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