No one likes to lose control of their finances. However, if you’ve acquired a mountain of debt and there’s no way you’ll be able to pay it off in your current financial state, it may be time for you to consider bankruptcy. While the federal government does not want consumers to view bankruptcy as a means to get out of paying their debts, it can be a great tool to help those who are truly in need. As you think about what type of bankruptcy petition you’d like to file, here are several reasons to consider Chapter 7 Bankruptcy in Avon IN:
1. Filing for Chapter 7 bankruptcy can save consumers both time and money. Because your unsecured debts are usually discharged at the end of the process, your case will only last three to six months. Not only does this mean that you can begin rebuilding your financial portfolio much sooner, but it also means you’ll spend less in legal fees.
2. One of the biggest benefits of filing for Chapter 7 bankruptcy is that many people who file a petition will be able to experience true debt relief. While Chapter 13 bankruptcy requires you to pay back your debts, much of what you owe can probably be discharged in as little as a few months with a Chapter 7 petition.
3. In a Chapter 13 bankruptcy case, the courts will be concerned with the income you earn or receive even after your petition is filed. When it comes to Chapter 7, it’s not likely that you’ll have to worry about what your income looks like after you file, which means you won’t be penalized if you get a raise or a higher paying job.
Your decision to file for Chapter 7 Bankruptcy in Avon IN should not be taken lightly, and it’s vital that you speak with an experienced attorney before you move forward. Your lawyer can not only make sure that you pass the means test for Chapter 7 Bankruptcy in Avon IN, but they’ll also be able to advise you throughout the filing process. If you’re thinking about bankruptcy and would like to speak with a qualified lawyer, get in touch with The Wright Law Group.Visit them online at thewrightlawgroupllc.com to discover more about how they can help you secure your financial future.