The bankruptcy benefits can be immediate with long term implications to you and your family. The first benefit to filing for bankruptcy is that the stress in your life will be reduced as your now doing something about your debts, financial issues and;
- Harassing phone calls will stop
Debt collection calls will stop as debt collection agencies are forbidden to contact you once a bankruptcy application has been filed with the court.
- Wage garnishees are stopped
If you wages have been garnisheed as a result consumer debt the garnishee will be removed and you will receive your full paycheque.
- No further interest is added to debts
Once a bankruptcy is filed no further interest can be added to any debts owed
- Consumer debt is discharged
After bankruptcy, consumer debt is eliminated, meaning you do not have to pay for it any longer
- After the bankruptcy is discharged, you can start rebuilding your credit in as little as 9 months.