That’s what bankruptcy does in the vast majority of cases — it provides relief while allowing you to hang on to property you need to get on with your life.
Relief is underrated until you are experiencing distress. We are all familiar with pain, nausea, and other unpleasant physical conditions. Financial distress, shame, embarassment, and harassment by creditors are all acute real-life problems that affect your health, well-being, relationships, and even your career. When your debt problem arises to this level — you need relief. Bankruptcy provides that relief by stopping all creditor collection activity and providing permanent resolution (depending on the chapter of bankruptcy elected) of those debts through the bankruptcy process.
Outside of bankruptcy, losing your home, car, and other necessary items can be a scary reality. In bankruptcy, in most cases you are able to keep your home and necessary vehicles as well as your personal belongings, tools of the trade, and other items. While there are no “free cars” or houses — creditors who have such property as collateral for their debts are entitled to get paid — bankruptcy shelters those items owned free and clear from your other creditors and can provide a structure to pay back creditors holding a security interest against those items. And if there is a burdensome item of property that is more trouble than it’s worth, bankruptcy lets you walk away from it forever.
If it’s time to end the suffering and get on with your life, give us a call. A fresh start is waiting for you.