Bankruptcy can be an efficient way to gain control of one’s money

| Feb 26, 2016 | Personal Bankruptcy |

This bankruptcy law blog has covered many topics related to Chapter 7 bankruptcy and Chapter 13 bankruptcy. Garnerville readers may remember that one form of personal bankruptcy requires a filer to liquidate assets to pay off their debts, while the other requires a filer to make a repayment plan to satisfy their obligations to their creditors. They may also remember that each form of individual bankruptcy provides its own timeline for how long the process may take before a filer is granted a bankruptcy discharge.

While the period between a person’s filing for bankruptcy and their receipt of a discharge by a bankruptcy court can vary, some individuals may feel that they simply do not have the time to wait out the process for the debt relief that bankruptcy can offer. However, it is important for readers to remember that other forms of debt relief also take time to pursue and that personal debt can actually grow as an individual investigates ways to climb out of financial peril.

The automatic stay and other bankruptcy protections are tools that debtors can benefit from when they choose to engage with personal bankruptcy options. Attorney Ronald V. De Caprio can discuss these advantages with his clients when they are ready to consider bankruptcy as a viable option for their financial lives.

Promises of quick fixes and fast relief in the debt relief realm are often too good to be true. Bankruptcy is a legal and legitimate way for a person to take control of their debts and end the financial problems that plague their life. Even though it may not be fast, bankruptcy can help a person put a stop to a growing liability problem, and to recover from the financial hole that they may have stumbled into. The law firm of Robert V. De Caprio is available to discuss bankruptcy options with those who wish to learn more about the process. Our firm’s website contains a variety of information about personal bankruptcy law.

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