Bankruptcy for immediate debt relief
If you are suffering from financial troubles, bankruptcy is the immediate protection you can have the legal issues. A licensed trustee can help you administer bankruptcy. With the help of this legal procedure, you will get a chance to have a fresh financial beginning.
Filing for bankruptcy can be an overwhelming experience if you do not have an expert on guidance. You might feel emotionally charged and that is why you should hire an expert for the job. In order to end your cycle of debt, it is important that you first understand how bankruptcy works.
How to file for bankruptcy
Filing for bankruptcy begins with consultation services. It is important that you know whether it is the best choice or not. There are other solutions available and so an expert counselor will give you the perfect advice after the assessment of your financial situation. Once you have made your choice, you have to file all the documentation for bankruptcy.
With the help of a legal attorney, you will get the approval. They will take care of all the paperwork and will assure that your case is strong enough so your file will not be rejected.
After the approval, it is important that you pay all the debts on time. It might take a few years but they will be better as compared to a life you might have to spend under the burden of debt. After the completion of bankruptcy, you can enjoy the debt-free life.
Reasons to file for bankruptcy
In case that you are confused that how bankruptcy will be the best solution. Here we have a few reasons that will clear all your doubts.
- Your payable debt is more than $1000
- With bankruptcy, all your assets will be secured and you will not lose anything which is exempt
- If you want no one needs to know that you have applied for bankruptcy
- All the legal actions and harassments from creditor will be removed as soon as you get the approval.
- Within a small time of nine months, you will be discharged from all the debts.
It is natural to feel stressed when you are planning to file for bankruptcy but the thought of having a debt-free life is even more relaxing. It is the time that you stop the struggle and plan for your life ahead. It better that you deal with the debts today because life might get tougher in future.
We have the highly experienced team of specialist that knows how to deal with such situations. They have been working on different types of cases. All you have to do is let the professionals know your situation and they will develop the perfect solution for you.
All our previous clients are satisfied with our services. After their bankruptcy completion, they have never faced such issues ever again. That is why we have the best reputation in the market. For more information about our services and rates, you can visit our website.
Your “job” is far from over when becoming legally bankrupt. To be able to obtain the discharge from bankruptcy, you need to complete all your responsibilities and duties during the bankruptcy process. These include sending the trustee a report of your monthly income, assisting the trustee in the disposition of your assets, meeting with the trustee for credit counselling and paying your monthly fee for the bankruptcy that is determined according to the provisions of the OSB. If you fulfill all your responsibilities and duties, and if no one objects you will be automatically discharged from bankruptcy after 9 months. This means that you do not have to file any papers nor remind your trustee that the 9 month period is over. You will automatically receive the discharge document from the court exactly after 9 months.
Once you obtain the discharge from bankruptcy, you are free of all your debts with few exceptions such as student loans, child support, etc. However, if you have failed to complete all your responsibilities and duties during those 9 months, your bankruptcy period may be extended for another year. So, you better make sure that fully cooperate with your trustee and that you follow the “rules” because once discharged, you no longer have any debts nor have any bankruptcy-related responsibilities which mean that at that point, you can start all over again.