The undeniable upside to filing for Chapter 7 bankruptcy is the debt relief it provides.
Ch7 has the power to lift a major burden off your shoulders in just 30 days. Most unsecured debt can be discharged, including credit cards, medical bills, collection accounts, repossessions and personal loans. Still, filing bankruptcy is not for everyone. So, here are 8 reasons that filing Ch7 may be YOUR best option to a financial reset........
Living without cash reserves invites more financial crises.
Debt settlement programs fail more often than they succeed, which wastes your money.
Bankruptcy does NOT generate taxes on discharged (wiped out) debts.
Credit repair starts after bankruptcy, not before
Minimum credit card payments take decades to clear the bill.
Delaying bankruptcy could complicate repayment plans, if necessary.
Stress from unpaid bills can and will harm your health.
Procrastination steals from your retirement savings aka your nest egg.
About the Author
Kiva V. Waters, a seasoned consumer protection lawyer specializing in bankruptcy law, has been dedicated to serving human needs since 2010. Founding WATERS LAW GROUP, her firm addresses bankruptcy-related concerns while also catering to elite leaders, thinkers, and creators.
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