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Posted by: Maricopa Lawyers on Apr 10, 2015

Getting continually harassed by collection agencies? Is it getting so out of control that they’re even calling you at work? There is something you can do about it. If you’ve never looked into it, declaring bankruptcy can be the solution you need to stop the calls and get your life back.
Declaring bankruptcy is a right granted to you by the US Constitution. It allows individuals or businesses to resolve their financial difficulties and start rebuilding their credit.

The advantages of filing for bankruptcy include:

  • Filing for bankruptcy will trigger the automatic stay, which prevents creditors from taking action to collect their debts, including calling you, suing you, or sending you letters.
  • You may be released from your obligation to repay any of your dischargeable debts.
  • It’s possible that you can go through the bankruptcy process without losing any of your property.
  • While filing a bankruptcy remains on your record for 7-10 years, because many debts can be discharged in bankruptcy, you can begin improving your credit rating after filing for bankruptcy.
  • Once you file the necessary documents with the court, creditors will be prohibited from contacting you directly, but must communicate through your lawyer. Although creditors are still permitted to contact your representation, most will wait and use the court proceeding to address issues.
  • Most of your debt will be cleared (except those that are exempt from bankruptcy), allowing you to begin anew. In most cases, you can keep a few assets to help you move on after bankruptcy.

Your situation will determine if bankruptcy is the right solution to your financial problems. This includes the types of debts you have and how much property you need to protect. An experienced bankruptcy attorney can discuss your options with you and help you decide whether or not to file for bankruptcy. If you file, the attorney can also ensure that your property is protected, that you’re released from all of your dischargeable debts and that your creditors do not violate your rights.