Advantages of Filing Bankruptcy
Here are some of the advantages you may be entitled to receive depending upon they type of bankruptcy you file:
- Immediately stops all calls and letters from bill collectors.
- Immediately stops all home foreclosures and lawsuits.
- Does not affect car payments if you want to keep your car and continue making payments.
- Stops interest charges on credit cards.
- Gives you a fresh start.
- May allow for reinstatement of your driver’s license if it was suspendend because of an auto accident.
- Opens up the door for new credit (including VISA and MASTERCARD).
- Allows you to catch up on car and house payments.
- Gets rid of past due bills.
- Stops bank garnishments and wage deductions.
- Allows you to keep all of your personal belongings and furnishings (up to a legal limit which has doubled since the beginning of the year).
- Cancels all past due utility bills with only a deposit needed to reinstate service.
- Allows you to immediately start a new savings plan.