Most clients come to see me not because they don’t want to pay their bills but because the bill collectors won’t quit calling them. If they qualify, I advise them to file a Chapter 7 bankruptcy for two primary reasons. First, the filing of the case imposes an automatic stay which stays any creditor from collecting or attempting to collect any debt that the client may owe to them. This means no more phone calls. You no longer dread the phone ringing. Also, you no longer have to dread getting the mail as the collection letters will stop.
Second is the advantage of a fresh financial start. Chapter 7 is often referred to as a “Fresh Start.” A fresh financial start means that you will not be weighted down by oppressive debt and obligations. Instead, you begin your credit or financial life all over again. Many clients tell me that the relief they feel after filing for bankruptcy is hard to describe.
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