Our Bankruptcy Lawyer Explores the Positive Aspects of Bankruptcy

Our bankruptcy lawyer sees the struggles of bankruptcy on a daily basis and understands the stress that comes with overwhelming debt and financial troubles. There are many hard decisions throughout these times and deciding whether or not to file for bankruptcy is one of them. Despite these struggles, there are some positive things that can be taken from this process; all people survive the filing and have the chance to obtain a fresh start. Take a look at some of the positive aspects of bankruptcy below.

Protection from Debt Collections

Dealing with debt collectors, such as creditors and collection agencies, can be stressful. Prior to the filing of bankruptcy, this can be a daily occurrence and add to the already mounting stress of being overwhelmed by debt. When you file for bankruptcy, you receive immediate protection. Creditors are not allowed to contact you, which provides a break during which you can collect your thoughts.

No More Debt

With unsecured debt out of the way, bankruptcy can give you the feeling of a nice, fresh start. What is unsecured debt? Any debts that are not backed by an asset, including those that were acquired through credit card bills, are unsecured. You will no longer have toworry about the future of these debts and how they are going to negatively affect your life.

Property Protection

Knowing the right time to file for bankruptcy is essential and could help you and your family keep your home and other properties. Although it depends on where you live and your home’s value, filing for bankruptcy can protect your homefrom liquidation; you will keep your home assuming you want to. Our attorney can help you determine whether this applies to you and ensure that all your property is protected when you file.

Learning Process

Going through bankruptcy is difficult.  It can also be a learning experience that will help you with your future finances. Our lawyer will guide youand advise you about where you went wrong and how to avoid similar mistakes in the future. Taking a positive learning experience away from bankruptcy is a great way to set yourself up for a better financial future.

Although filing for bankruptcy can be overwhelming, with the help of an experienced bankruptcy lawyer it can also be a positive experience. Attaining freedom from debt and getting a fresh start is just what many people need ; William D. Schroeder, Jr. can help see that it is done the right way. For more information or further questions, give us a call at 215-822-2728 and we’ll be happy to help you out.