Top Ten Reasons People File for Bankruptcy 6-10
6. Stop Harassing Behavior From Creditors.
Some creditors do not always take the right course of action when attempting to collect a debt. Often, creditors will persistently call the home of a particular debtor with demeaning and abusive behavior. Not only is this unethical it can rise to the level of unlawful. In essence,
bankruptcy will put on hold the demands of many creditors and stop the harassing phone calls and other inappropriate behavior all together.
7. Restore or Prevent Your Utilities From Being Shut Off.
As you have probably seen many of these reasons overlap. Some lead to another. If your home is in risk of foreclosure then your utility bill may also be in risk of being terminated. Filing bankruptcy can prevent the utility company from leaving you in the dark.
8. Provide Help For Large Amounts Of Student Loan Debt.
While it is true that your student loans will not be eliminated like several other types of unsecured debt, bankruptcy can consolidate your student loan debt. This consolidation will allow a debtor to make monthly payments through
Chapter 13 Bankruptcy that are within the financial ability of the debtor.
9. End Wage Garnishments.
Chapter 7 Bankruptcy will stop wage garnishment. Wage garnishment basically takes away your weekly earnings often times leaving you without necessities. Chapter 7 Bankruptcy allows you to purchase necessities for you and your family.
Chapter 13 Bankruptcy will also help in this regard.
10. Challenge Certain Claims of Fraudulent Creditors.
Bankruptcy will allow you to challenge these claims from creditors who are trying to collect more money from you than you really owe. An attorney can provide the support and the backing you will need to step up to these creditors. Attorneys often even the playing field between a big creditor and a single debtor.
Filing bankruptcy with an attorney can stop fraudulent reporting by a creditor.
- Free 24-hour Bankruptcy Information Line
- Call 1-888-3NO-DEBT (1.888.366.3328)
