Bankruptcy can be a particularly beneficial process for individuals that are suffering through tough financial times and are unsure of how to fix their financial situation. To learn more about bankruptcy, you should consult a bankruptcy attorney. They can help decide which process is best for you. During this process, they may also be able to help with other aspects, such as preventing you from facing foreclosure. When people are struggling through tough financial times, it can have an effect on every aspect of their life. They may face a lot of worry about the future. However, they can have comfort knowing that our firm is here for them to consult them on all their bankruptcy needs. We will do the best that we can to get you in a better financial situation and hopefully prepare for a more successful future. Bankruptcy has a bad stigma surrounding it. Individuals should not see it this way, but should instead see it as a way to fix a current situation.
When people file for bankruptcy, an automatic stay will be a part of the process that seems to be quite beneficial. This tool is used for Chapter 7 bankruptcy, Chapter 13 bankruptcy and even business bankruptcy, called Chapter 11 bankruptcy. For each process, the automatic stay can be beneficial for the debtor since they will not have to face harassment from creditors any longer. Creditors are barred from contacting debtors once the paperwork for bankruptcy is completed and filed. Once the paperwork is filed, the automatic stay goes into effect, making this bar possible. This can prove to ease the stress of these individuals since they will not have to face angry creditors and can focus their attention on fixing their situation. By having the automatic stay in effect, debtors can get the space they need to plan for their future, along with their bankruptcy attorney. Individuals and business owners are able to file for bankruptcy. However, they must fill the requirements before following through with the process. These requirements may include credit counseling so that they can learn more about their situation and how they got into it. This can help to give them the knowledge on how to avoid this situation in the future.
If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options.