The Pros and Cons of Filing for Bankruptcy Protection with li bankruptcy attorney

The Pros and Cons of Filing for Bankruptcy Protection with li bankruptcy attorney

You won’t find anyone that would tell you that filing for bankruptcy is an easy decision.

 li bankruptcy attorney

The Pros and Cons of Filing for Bankruptcy Protection with li bankruptcy attorney

In fact, even those that are buried under a mountain of crushing debt, staring down way more financial obligations than they would ever be able to reasonably meet, knowing bankruptcy is the only way out still try to fight filing for a bankruptcy as hard as they possibly can – usually only giving up and giving in to filing for a Long Island bankruptcy with the advice of one of the better bankruptcy lawyers in Long Island has to offer. But even then it’s harder than pulling teeth. If you yourself are contemplating whether or not filing for a Long Island bankruptcy is bright for you, you’re going to want to speak with the very best LI bankruptcy attorney you can find. Only with their help and assistance (and their legal advice) are you going to be able to make the right decision – a decision that will impact your financial future from here on out. So the first piece of advice that you should take advantage of is to contact the experts at Blutter and Blutter at your earliest convenience. These professionals are widely regarded as the best bankruptcy attorney Long Island service around, and can give you the best chance of success moving forward. They offer a 100% free (and zero obligation whatsoever) consultation that you can take advantage of, a consultation and interview process that will allow you to see firsthand why they are so highly regarded in our Long Island community. The second bit of advice would be to pay close attention to the details included below. There are pros and cons to making the decision about filing for a Long Island bankruptcy, but you need to know about them well ahead of time. Let’s get started!

Bankruptcy doesn’t mean your life is over with the help of bankruptcy lawyers in long island

The first thing that you’ll want to remember when you file for a bankruptcy with the help of the right bankruptcy lawyers in Long Island is that your life is nowhere near over, and your financial future isn’t going to be crippled forever. Yes, there is going to be a bit of a “black mark” on your financial record from here on out. And yes, dealing with the United States federal government in the United States federal bankruptcy court system isn’t going to be a walk in the park. But when you are working with the right experts and understand that a Long Island bankruptcy offers you the best chance of getting back on track faster than anything else (while helping you slide out from underneath a crushing amount of debt at the same time), things become a lot less stressful and a lot less pressure packed. There will be a light at the end of the tunnel, and most of the time you’ll come out better for the experience. It might not seem like that right now, but it’s the truth.

Pros of filing for bankruptcy in Long Island with li bankruptcy attorney

Slam the breaks on collection agencies and creditors contacting you immediately The first big benefit of going through with a Long Island bankruptcy is one that you will notice immediately. The moment that you begin the process of filing for your bankruptcy (and the moment that your Long Island bankruptcy lawyer initiates the proceedings) is the moment that every single one of your creditors, your lenders, and their collection agents must (MUST) stop contacting you. That’s right – you’ll never have to worry about phone calls at dinner, harassing voicemails, or messages that try to beat you into submission to send them money. All of those go away immediately Avoid foreclosures and repossessions The second that your bankruptcy lawyer Long Island service begins the bankruptcy proceeding you’ll also halt any foreclosures or repossessions that are underway or about to be carried out. This is a huge benefit for those that were worried about losing their homes or losing their vehicles, and it also gives you a “last resort” kind of option to restructure your debt and financial obligations so that you keep your property and your vehicle moving forward. It’s a great tool to have in your back pocket, and a tool that your Long Island bankruptcy lawyer will be smart enough to leverage at just the right time Let’s you jump start your credit rebuilding process It might not seem like a great thing at the time, but your Long Island bankruptcy is actually a blessing in disguise. You see, when you are living paycheck to paycheck, uncertain about which financial obligations you’ll be able to meet and which ones you’ll have to ignore this month, next month, and the month after that, you’ll never be able to get back on track financially. However, when you go through a bankruptcy (and have the help of the best bankruptcy lawyers in Long Island every step of the way) you’ll be able to hit the “reset button” so that you can start rebuilding your credit and your finances from here on out. Gives you a “clean slate” to work off of moving forward The number one reason that people choose to go with a bankruptcy filing is so that they will end up with a “clean slate” that they can take advantage of immediately. Your Long Island bankruptcy is going to wipe out almost all of your debt (and maybe all of your debt entirely, depending upon the kind of “magic” your LI bankruptcy attorney can work), giving you that clean slate much faster and more effectively than anything else. Cons of filing for bankruptcy in Long Island You’ll have a bit of a black mark on your financial record going forward There is no denying that a bankruptcy is going to have an impact on your financial record and your financial future. It’s going to happen. Depending upon the specifics of your situation (and how your bankruptcy attorney Long Island service tackles your particular bankruptcy proceeding), this black mark may or may not last or have the kind of impact that you thought it would. As mentioned above, there is life after bankruptcy. People can get loans, can get mortgages, and can get credit cards. It just might take a little bit more time and effort than you are used to. The first year after bankruptcy will be tough for getting new loans In the first year after your bankruptcy has concluded, you probably aren’t going to have the easiest time getting your hands on new loans, a new mortgage, or even new credit cards. Now, this isn’t exactly a “universal truth”. Some people have been able to bounce right back from a bankruptcy almost just a few weeks after the process has completed, whereas others work closely with their Long Island bankruptcy lawyer to speed the process up dramatically. At the end of the day, getting a secured credit card (where you put up money or collateral against the loan) is probably the fastest way to rebuild after you have filed for a Long Island bankruptcy. Some of your debts may not be discharged after bankruptcy There are a number of different debts that may or may not get discharged even after you have successfully completed a bankruptcy proceeding. Things like student loans, some medical bills, and anything that you didn’t disclose (and wasn’t discovered by the US federal government) will still follow you and be a financial obligation that you’ll be required to meet. Most of the time this is much more manageable than it was in the past thanks to the wipeout of all your other debt, but it’s still something to keep in the back of your mind. You might lose some property If you file for Chapter 7 bankruptcy, there’s a good chance (a very good chance) that you are going to lose, forfeit, or surrender property to meet your financial obligations. That’s just the way that this Long Island bankruptcy is set up. However, you probably won’t lose all of your property (and should not lose your home or vehicle), but you’ll still want to work with the best LI bankruptcy attorney you can find to make sure that you take advantage of any and all exemptions that exist. Make sure you work with the rightbankruptcy lawyers in Long Island At the end of the day, you need to always work with the best Long Island bankruptcy lawyer or Long Island bankruptcy attorney you can find. The experts at Blutter and Blutter have been assisting the Long Island community for more than 55+ combined years. They’ve helped friends, family, neighbors, and community members get out of sticky Long Island bankruptcy situations – and they can help you to. Contact their legal offices today to set up a 100% free and zero out again and whatsoever consultation. You’ll be able to interview them personally, and find out firsthand why so many people consider them to be the very best bankruptcy lawyers in Long Island.

Leave a Reply

Facing Bankruptcy?

Get your free report on the simple steps you can take to stay in your home for years when you're facing bankruptcy:

First Name*

Best Email*

Don't worry, I won't rent or sell your information to any third parties.