5 Reasons to Declare Bankruptcy
It can seem like life is over after filing for bankruptcy in Las Vegas. While you know the threats and stress need to end, you’ve become so used to it. You forgot how to lead a life not consumed by out-of-control finances.
While contacting a bankruptcy attorney and declaring bankruptcy may seem scary, realize the reason why bankruptcy exists is to help and protect you. It is there to get your life and money back on track and to stop the madness.
If you considered filing for bankruptcy in the past and hesitated, you’re not alone. Read this list and see how one of our lawyers in Las Vegas can help you.
Top 5 Reasons to Declare Bankruptcy
1. Your Phone Won’t Ring as Much
From all the harassing phone calls, you’ve probably become so accustomed to the sound of it ringing off the hook. You ignore it so much that you don’t even notice you have one anymore. They’ve probably started reaching you on your cellphone too, leaving threat after threat on your voicemail.
Take back your phones. After filing for bankruptcy with a Vegas attorney, debt collectors cannot contact you anymore. Law mandates this. They now have to deal with an attorney and a bankruptcy trustee who loves taking these calls.
2. Manageable Finances
Depending on your type of bankruptcy and loans, you can discharge most or all of your debts or create a financial plan in paying them back. Before bankruptcy, you had multiple due dates, with multiple payments hit with multiple late charges. Now your due dates are clear and handled by your Las Vegas bankruptcy trustee.
3. The Nag Goes Away
Imagine waking up not worried. You can go to work, get lunch, come home and go to bed peacefully. You can see your friends, play with your kids, or relax at home without the constant nagging feeling. You know what we mean. The deep nagging thoughts and feeling of not doing something, realizing you’re falling deeper debt, disappointment on yourself and your family, and fearing someone will put a lien on your house or repossess your car.
4. Build Your Credit
While bankruptcy will affect your credit score, depending how far along you are in debt, especially credit card debt, it may be more advantageous for you. For example, unmanageable credit card debt does not go away after seven years. It may not show up on your credit report, but it’s still valid. Depending on how many debts you have, it will continue to drag down your credit score.
Bankruptcy will get rid of most or all of your debt. Depending on which bankruptcy, it may show on your credit report from three to seven years, but after those years pass, the bankruptcy will be discharged. This means you can start building your credit and get where you want to be financially.
5. Control Your Future
Imagine after months or years of letting your debt control your life, you are now free. You have it back, and you can do with it as you please. While your bankruptcy will show on your credit report for three to seven years, it will be discharged eventually if you continue being financially responsible.
You can now live the life you want to live with a clean start. However, this time, you will see and manage your finances in a different light.
If you are considering bankruptcy, contact Luh and Associates Attorneys at Law. Our Las Vegas bankruptcy lawyers can help you get your life and finances back in control.
Don’t know what to ask a lawyer in Las Vegas, Nevada? Call today and get a free consultation.