5 Reasons to File Bankruptcy

Most people cringe when the word bankruptcy is mentioned, especially in the same conversation as their own personal financial situation. It’s hard to consider the fact that bankruptcy could benefit your life, but the truth is that bankruptcy is a solution that has helped many people over the years and it can help you, too. Read below to learn five of the biggest occasions you should file bankruptcy and get in touch with a bankruptcy maryland lawyer at once.

1.    To Avoid Eviction: If you foresee an eviction in the immediate future, filing for bankruptcy can put that to a halt. But, you must file before the landlord files the lawsuit or you’re out of luck.

2.    To Avoid Foreclosure: Losing your home is the last experience that you want to endure but if you are at risk of the foreclosure process and don’t have the funds to cover the money that you owe, this could be the future that you see if you don’t file for bankruptcy.

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3.    To Stop Harassment: Are you tired of getting creditor calls all hours of the night, including when you are at work? Tired of opening the mailbox only to find more demand for payment? When you file bankruptcy, creditors have a cease and desist order and cannot contact you any longer.

4.    Nothing Else Has Helped: Sure, there are other options to consider before taking the plunge to file for bankruptcy. Perhaps you’ve already tired these options to no avail. In such case, bankruptcy is there and still a viable option for most people.

5.    Turn Over a New Leaf: It is hard to be drowning in debt and see no way out. It adds stress to your life and a mound of additional hardships that you don’t want to experience. Bankruptcy gives you the opportunity to thrive and turn over a new leaf to financial recovery.