Benefits of Bankruptcy

An individual contemplating bankruptcy should seek out as much information as possible. The bankruptcy process is complex and will have a major impact on your life. For many people who are struggling with debt or facing foreclosure, bankruptcy may be the best answer to get a fresh start. Bankruptcy can provide immediate relief, both emotionally and financially.

There is a lot to consider before you make decisions about filing for bankruptcy and having a telephone consultation with The Forrest Law Firm will help provide you with answers to your questions. Filing for bankruptcy can have the following benefits:

• Eliminate debt. Bankruptcy can relieve you of unsecured debt that you are unable to pay such as medical bills, credit cards, bank loans, business debts, overdraft charges and utility bills.
• Stop creditor harassment. After you file a bankruptcy petition, the "automatic stay" protection immediately works to prohibit creditors from calling, billing, threatening, suing or taking any measures to collect from you. After you file a bankruptcy petition, even secured creditors must get court permission to repossess your car or foreclose on your home.
• Catch up on your car or mortgage payments.
• Rebuild your credit. While it is true that a bankruptcy has a negative impact on your credit rating, high debt levels can be just as bad for your credit score. Once you have completed bankruptcy, you may find it much easier to begin rebuilding your credit than you expected. In our experience, it is common for people who have been through bankruptcy to receive new credit cards and car loans within only a year or two (often from the very same creditors).
• Stop foreclosure. When you successfully file for bankruptcy, you can stop foreclosure proceedings through the bankruptcy court’s "automatic stay."

Florida Bankruptcy Attorney

If you are thinking about filing for Chapter 7 or Chapter 13 Bankruptcy in the State of Florida, contact The Forrest Law Firm today! We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

Florida bankruptcy attorney Christopher Forrest represents clients in Sarasota County, Manatee County, Pinellas County, Hillsborough County, Venice, North Port, Sarasota, Bradenton, Tampa and St. Petersburg, and surrounding areas.