Altamonte Springs, FL Bankruptcy Lawyer | The Orlando Law Group, PL

Is it Time to Hire a Bankruptcy Lawyer in Altamonte Springs?

Are you struggling with debt? Do you wonder how you could ever possibly pay off all of the bills you have and get your financial life back to normal? Although it might sound frightening, one of the best options to consider for you and your family will be working with a bankruptcy lawyer in Altamonte Springs.

Many People Choose to File Bankruptcy

The word bankruptcy used to have a lot of stigmas attached to it, but this has started to fade over the years. Financial times can be difficult for anyone, so you shouldn’t feel shame if you are considering bankruptcy.

Even though most people don’t want to have to go through this process, it’s seen as a good and viable option for those who are in need. It could be just the thing that’s needed to help you recover financially.

Advantages of Filing for Bankruptcy

Let’s look at some of the main advantages of filing, as well as some of the potential cons.

A Fresh Start

One of the biggest benefits is that it gives people the potential to have a fresh start with their finances. Those who are eligible to file for Chapter 7 could have most of their unsecured debts forgiven. Unsecured debts would be loans that aren’t secured by collateral, which could include certain loans or credit cards.

Secured debts, on the other hand, could still be collected by the creditors. This could include seizing certain assets when payments are missed on a car loan or a home mortgage. Most consumer debts are unsecured, though, making Chapter 7 a good option to consider.

No More Harassment

One of the other major benefits is that the collection efforts stop once you file for bankruptcy using either Chapter 7 or Chapter 13. As soon as the petition is filed, it prohibits collection activity, including calls, letters, emails, etc., from the creditor or debt collectors. In those cases where creditors continue to try to collect the debt or harass you, they could be ordered to pay damages.

Peace of Mind

No one likes the feeling of being overburdened financially. It’s frightening to worry about what’s going to happen with your possessions. You don’t want the feeling of dread that creeps over you every time the phone rings, and you think that it has to be yet another debt collector trying to get the money that you simply don’t have. You don’t like now knowing what’s going to happen next.

This is where bankruptcy can help. When you work with a skilled bankruptcy lawyer in Altamonte Springs, you can get the answers to all of your questions. You will know what you have to do to file and what to expect at each step of the case. You will get the peace of mind you deserve.

Of course, that’s not to say that filing for bankruptcy is always the right decision for everyone. It always depends on your unique financial and legal situation. When you speak with an attorney, they can work with you and look at your case to let you know whether bankruptcy is the right solution for you. It is for many, but not for everyone.

Bankruptcy will remain on your credit record for up to 10 years. However, those who need to file for bankruptcy likely already have a troubled credit rating. The financial outlook after filing for bankruptcy is not bleak, though. It essentially gives you a clean slate, and most will find that after just a couple of years, it becomes easier for them to get other credit and loans again

One of the reasons for this is that debtors can only discharge their loans once every eight years, and the lenders know this. They realize that someone who is a year or two out from their bankruptcy won’t be able to file again for many years, so they may be willing to provide credit. Most will notice that it will be more difficult for them to get good interest rates until they have built up their score and have removed the bankruptcy.

Work with a Great Bankruptcy Lawyer in Altamonte Springs

No one wants to be in over their head financially. If you find yourself in a situation where choosing bankruptcy is the best option, the attorneys you choose can make a huge difference in the outcome of your case. Fortunately, we can help you on your search for a qualified bankruptcy lawyer in Altamonte Springs.

You want to work with the best, so be sure to get in touch with Orlando Law Group. We have experts who have worked in the field of bankruptcy law for years and who can help you with your case. The sooner you get in touch the sooner you can get the help you need.