In today's negative world, we must look for the positive aspects of everything, including bankruptcy. If you talk to the debt collector and tell them that you plan to declare bankruptcy, they will give you a list of the negatives and indicate how it will destroy your life. Everyone must understand that if someone works for a creditor or collection agent, he is paid to collect money from debtors. This means that they will tell you everything they think you will believe to bring you to give them money. Many collection agencies pay to the commission, which makes it even less scrupulous. I've heard some crazy stories about how a collection agency was going to have a debtor arrested for not paying his bill. For the uneducated, this can be a scary time. Nobody wants to go to jail for not paying their bills. The truth is that there is no prison for debtors, it is a civil case and not a criminal case. In fact, the creditors who practice this tactic are breaking the law themselves. When creditors break the law, the person sought must find a lawyer who specializes in this area of credit law and act. At the very least, the creditor will be subject to sanctions to stop this behavior and, depending on the seriousness of the violation, the individual may receive financial compensation.
So let's not dwell on the negative aspects of which many fall into the category of myths and legends. Deposit bankruptcy has more positives than negatives, especially for those who are buried under a mountain of debt. First, it's automatic suspension. When an individual is bankrupt, an automatic suspension is put in place, interrupting any collection activity against the debtor. This stay is so powerful that it will put an end to seizures, lawsuits, judgments, seizures of wages and any type of debt collection, including telephone calls. As we have already mentioned, creditors sometimes ignore automatic suspension and continue to harass the debtor. When this happens, the person must contact his bankruptcy lawyer to take action against that creditor. Most of the time, the creditor will return under his rock from where he came to never be heard again.
The most important and most popular benefit of filing for bankruptcy is the liberation of bankruptcy. At the end of the bankruptcy filing, the court will issue a discharge from the bankruptcy canceling all unpaid debts. The beauty is, all this can be completed in 4 to 6 months when we file the bankruptcy of chapter 7. Many lucky people whose debts are not guaranteed at all ends up freeing themselves from their debts or little by little end of the process. Bankruptcy is the only form of debt elimination that enjoys the protection of the legal system. This makes it the most powerful form of debt elimination.