Is Bankruptcy Right for Me?
“Is Bankruptcy For Me?” is a common question asked by people who are experiencing financial hardships or struggling with unmanageable debts. To answer this question, we need to first understand what bankruptcy is. This means we have to consider the process of bankruptcy and its purpose. In terms of the latter, bankruptcy is an established legal process under federal law which exists to provide relief for those who are struggling with overwhelming debt. The way this is done depends on the chapter of bankruptcy filed and the financial circumstances of the individual considering filing. There are some things that are the same for all chapters of bankruptcy. There are certain things that are common to all bankruptcy chapters. For example, virtually all bankruptcy chapters aim for a “bankruptcy discharging,” which is a process through which the debts addressed by the bankruptcy filing will be permanently resolved.
Additionally, bankruptcy also always affords the filer the benefit of something called the “automatic stay,” which is essentially a legal framework that shields those going through the bankruptcy process from their creditors. The combination of the automatic stay and the bankruptcy discharge allows those who are going through the bankruptcy to be relieved from the overwhelming debt they are trying to resolve. This framework is the way bankruptcy achieves its goal: to relieve people from unmanageable or overwhelming debt. This relief comes in many forms, such as protection from collection and the stress of overwhelming debt. If you answered yes, then bankruptcy may be the right path for you! If you answered yes, bankruptcy could be the right path for you. Unmanageable debts are often overwhelming and can quickly consume our attention and take away our other priorities. Bankruptcy gives us the opportunity to be freed from unmanageable debts. It offers us relief, and in this way, we can regain our lives. Call us today if you’re ready to be free of unmanageable debts, and the stress that comes with them. Call now for a free strategy session with an MN bankruptcy lawyer at LIFEBACK LAW FIRMS
. We are experts in helping people use the bankruptcy process to protect their families and themselves from the burdens of overwhelming debt. So, when the time is right, or when you are ready, please don’t hesitate to reach out to Minnesota’s most kind and helpful bankruptcy law firm by going now to
www.lifebacklaw.com
.
