When To File For Bankruptcy
Bankruptcy can be a viable solution to serious personal or business financial troubles. Whether the result of the 2020 pandemic, loss of job or business revenue, or other reasons for overwhelming debt ranging from divorce to exorbitant medical bills, anyone can find themselves in a situation in which their income, savings, and insurance are just not enough. This is why bankruptcy protection exists.
Commencing a bankruptcy case immediately stops creditors’ collection actions against you and your property. Garnishment of wages, calls from collection agencies, and lawsuits seeking debt repayment, such as foreclosures, are among the types of actions that come to a halt while your bankruptcy is pending.
When considering bankruptcy, the earlier you consult an expert bankruptcy attorney the better. Rely on the attorneys at Lester & Associates who have extensive experience in all phases of the process to help you decide if bankruptcy is the answer for you, and if it is, to guide you in navigating the laws and requirements that govern this complex arena.