Have you found yourself in over your head financially? Are you sick of continuous phone calls and letters attempting to collect payments you don’t have the money to make? Under certain circumstances, it’s not difficult to lose control of your finances, and end up biting off more than you can chew. If you’ve made the decision to file bankruptcy, it’s imperative that you seek legal counsel. A bankruptcy attorney can help you determine which type of bankruptcy you need to file. With help from bankruptcy attorneys in Jackson MS, you can have the opportunity to start fresh again and be free of your debts.
The Basics
Bankruptcy is a consumer protection law that allows individuals to have their debts forgiven or readjusted. Once filed, bankruptcy can remain on your credit report for up to ten years. However, it’s an intelligent decision to make if you owe unsecured debt, such as credit card bills or loans that you can’t see yourself paying off in the future. Everyone makes mistakes, especially with spending and finances, and not everyone is good with money. Situations can get out of hand. Bankruptcy is designed to erase the mistakes you’ve made financially, and gives you a clean slate to work with. Even if you can’t get rid of all of your debts, the debts that may remain can be adjusted so you have the ability to pay them.
How You’re Protected
After you’ve successfully completed the process of filing for bankruptcy, you’re legally relieved of your debts. An “automatic stay” goes into effect, which stops creditors and collection agencies from contacting you in any way. The letters, harassing phone calls, and lawsuits are legally put to a halt. In other words, you’re granted immunity from debt collectors, and they can no longer interfere with your life. Bankruptcy attorneys in Jackson MS understand that everyone deserves a second chance, and can help you take back control of your financial future.
