It is easier than most people think to get over their heads in debt. It takes just a few bad financial choices to have a negative effect on a person’s credit and their financial future. When a person’s debt becomes too much, the best option is often bankruptcy. There are several advantages to hiring a Bankruptcy Attorney in St. Charles MO, to assist in filing for bankruptcy.
Easy to Explain
When a person has overdue payments, repossessions, and lawsuits in their credit history, it can be very damaging. Also, these issues can be difficult to explain to lenders. It is much easier to explain bankruptcy to lenders rather than a laundry list of missed debt payments.
The End of Harassing Phone Calls
Creditors often make several calls a week and send out several harassing letters when a person is in debt. When debtors file for bankruptcy, these calls will stop. Their Bankruptcy Attorney in St. Charles MO, will contact the creditors to inform them of the impending bankruptcy. This should put an end to threatening and harassing correspondence and calls.
Dischargeable Tax Credit
While current tax debt cannot be discharged through bankruptcy, tax liabilities that are older than three years can be discharged through bankruptcy.
Keep Some Assets
When a person files for bankruptcy, they will often lose some of their luxury possessions. However, most state exemptions allow the person is filing to hold onto many of their possessions by making them exempt from bankruptcy. A good attorney will fight so that their clients don’t lose everything.
A Fresh Start
Being in debt can feel like a losing battle. Just the interest payments alone on credit cards can make it difficult and, in some cases, impossible to get out of debt. When a person files for bankruptcy, it will give them a fresh financial start. Not only will they no longer have the stress of having debt hanging over their head, but they will also no longer be harassed by creditors.
For many people, bankruptcy is the only way they can get out of debt. The attorneys at the Law Offices of Steven K. Brown can help those who are deep in debt find their way out. For more information, visit the website.
