If you are dealing with serious financial distress and you are considering bankruptcy, you are certainly not alone. Bankruptcy protection is an effective legal tool for many individuals and families who are looking to find stable financial footing. According to data published by the United States Courts, approximately 700,000 people file for personal bankruptcy protection every year.
Unfortunately, many people make avoidable errors early on in the bankruptcy process that undermine their own best interests. One of the biggest mistakes you can make is waiting too long to get started. Here, our Martinsburg bankruptcy attorney highlights four of the most important advantages of taking a proactive approach and getting started with your case right away.
1. Your Debt Will Continue to Grow When Left Unaddressed
Getting out of debt is difficult—especially when interest, fees, and penalties are continuing to add up. If you or your family is in a financially challenging position, it is likely that your total debt load is getting higher each month. With every passing day that hole is going to get a little deeper. The sooner you get started, the easier it will be to use bankruptcy and other debt-relief tools to dig yourself out of financial stress.
2. You Can Best Protect Your Property (Home, Car, Etc)
Are mortgage companies, lenders, or debt collectors threatening your personal property? It is time to consider bankruptcy protection. You can—at least temporarily—stop an impending foreclosure or vehicle repossession by filing for Chapter 7 or Chapter 13 bankruptcy protection. This will give you time to work out the best solution with your attorney. Often, you can save your home and your car in bankruptcy.
3. You Can Stop All Pending Creditor/Debt Collector Lawsuits
When you file for bankruptcy, you are entitled to an automatic stay. In effect, this means that any debt collector lawsuit filed against you will be halted. All collection proceedings stop. The pause provided by bankruptcy is a critically important tool to help people get their finances in order and develop a plan that actually works.
4. You Deserve Financial Peace and Security
No one should be forced to live with the stress of overly burdensome debt. It can take a real psychological toll on you and your loved ones. The sooner you get started with your bankruptcy case, the sooner you will be in a position to fix the problem and find a long-term answer. You and your family deserve peace and financial security. A bankruptcy attorney can help you navigate these trying times and find the best path forward.
Call Our West Virginia Bankruptcy Attorney for Immediate Assistance
At Hinkle Law PLLC, our West Virginia bankruptcy lawyer is a skilled, compassionate advocate for clients. Our mission is your long-term financial health and well-being. We are ready to get started on your case today. Contact us right away for a free, strictly private initial consultation. With offices in Martinsburg, Charleston, and Hagerstown, we represent people and families in West Virginia, Western Pennsylvania, and Western Maryland.