Benefits Of Bankruptcy

All too many people fear the possible repercussions of bankruptcy while not fully understanding the benefits. The benefits of bankruptcy can roughly be put into one of two categories:

  • Stopping the burdensome aspects of unmanageable debt — Upon filing for bankruptcy, the automatic stay will go into effect, putting an immediate halt to creditor harassment, wage garnishment, car repossession and home foreclosure.
  • Discharging of debt or restructuring such that it can be paid over a three- to five-year period — The eventual outcome of a bankruptcy filing is that you will have your debts discharged, giving you a clean slate on financial life. This outcome can also allow for the rebuilding of credit as one's income-to-debt ratio will improve favorably.

Without question, bankruptcy still remains one of the most effective means for reclaiming financial health and independence. That said, leveraging its benefits requires a comprehensive understanding of the filing process — something a skilled bankruptcy lawyer can bring to the table.

If you are considering bankruptcy, we at The Law Offices of Shelly L. Kennedy, Ltd., in Sandusky, Ohio, are prepared to bring our comprehensive knowledge to work for you. With more than 25 years of experience, there is no Chapter 7 filing issue for which we are not prepared. We encourage you to get in touch as soon as possible.

To schedule an initial consultation to discuss any Chapter 7-related issue with our Chapter 7 bankruptcy attorney, call 419-967-6039 or email the firm.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.