Too Much Debt? A Bankruptcy Attorney in Bowie, MD May Be Able to Help

by | Jun 5, 2017 | Bankruptcy Attorney

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Despite the obvious disadvantages to filing for bankruptcy protection, such as a notation on the filer’s credit report for up to 10 years, a lower credit score, and a decreased likelihood of obtaining low-interest loans, there are some significant advantages to using the federal bankruptcy code to discharge debts. Whether a person chooses to file chapter 7 or chapter 13 bankruptcy, they may be able to stop foreclosure, get money back that was taken by wage garnishment, and answer their phone again without worrying there is a creditor on the other end of the line.

Many people who are eligible for chapter 7 bankruptcy protection and can benefit from it don’t file because they are more concerned about the potential disadvantages than the advantages. A bankruptcy attorney in Bowie, MD could explain how bankruptcy may help someone in their situation. For those who have already damaged their credit by paying their bills late or allowing debts to go into collections, there may be fewer disadvantages than they thought. If they check their credit report, they will likely find their score is already very low, and filing for bankruptcy protection may actually improve their credit risk.

Before anyone can file for bankruptcy, they have to consult a credit counselor to ensure they know about all the options available to them and that bankruptcy is the most effective way to resolve their debt problem. Some people learn in this meeting that bankruptcy is, in fact, too extreme for their situation, and they can take care of their debt without having to get help from the court. However, for most people who get this far in the process, bankruptcy is a smart solution and they return to their bankruptcy attorney in Bowie, MD to complete the paperwork.

There’s no reason to wait months or years to get in touch with a bankruptcy attorney in Bowie, MD. Anyone with a lot of debt and not enough money to pay all of their bills can visit website to learn more about the types of debt relief available to them and make an appointment to speak with a lawyer in person.


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