4 Situations You Might Find Yourself in Where Bankruptcy Law Can Help
Bankruptcy Law
It’s not easy to think about filing for bankruptcy, but sometimes it can be the best option.
When you’re in a tough spot and don’t know what to do next, it might seem impossible to imagine life getting any better.
The truth is that bankruptcy law can help people with many different financial problems. In this article, we will discuss four of these situations.
Personal Injury Claims
Personal injury claims are often the source of significant financial problems for people who have been injured.
After all, you can’t work while recovering from your injuries, which means missing out on income to pay for bills and expenses.
This is where bankruptcy law might provide a solution by halting creditor harassment or allowing a more manageable debt repayment plan, so more money goes toward your recovery.
Foreclosure on Your Home
Many people are in danger of losing their homes when they can’t afford the mortgage payments any longer.
This is one of those times that a bankruptcy lawyer might be able to step in and help. For instance, a Chapter 13 repayment plan would allow you to catch up on your debts over time instead of being forced out onto the street with nothing.
If You Have Large Medical Bills
It’s not just the people who have been injured that end up with large medical bills.
In fact, it could happen to anyone at any time due to an accident or illness.
When this happens, bankruptcy law might be able to help by giving you relief from these crippling debts for one year, so they don’t continue to grow and destroy your finances.
Credit Card Debt
The last situation that bankruptcy law that can be helpful is with credit card debt.
This type of debt might seem like it’s the easiest to deal with, but in reality, many people find themselves overwhelmed by this type of financial obligation and don’t know what to do next.
For instance, filing for bankruptcy would help you get rid of the debt by providing a fresh start.
Bankruptcy law can provide a solution for those in tough financial situations like foreclosure on your home, personal injury claims, large medical bills, and credit card debt.
These are just four of the many different types where bankruptcy could be helpful. It’s not an easy step to take- but it might put you back on the right track.
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Category: Bankruptcy
