Understanding Bankruptcy, Dec. 31, 2020: Why Not?

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Question: What Are Five Silly Reasons Not To File For Bankruptcy?

Answer: 1.You can’t be sued to collect on a debt.

Sure, that sheriff or process server that comes to your door at 5:00 a.m. is a really nice guy, and you’ll miss those early morning visits, but the fun has to end sometime, learn more from this contractor in Dallas, TX.

More than ever, creditors and debt collectors are suing people to collect on debts. In fact, these days, I see more and more clients that have been sued over debts of $1,000.00 or less. So you won’t get swindled or petrified especially by collectors who use scare tactics, it’s advisable to learn more about bankruptcy law.

When you file a bankruptcy it stops all collection actions. This includes lawsuits, that is why you also need to make sure that you get an excellent bankruptcy attorney if you are facing bankruptcy and we very much like this experienced bankruptcy lawyer in Merrillville, Indiana so they are a great option.

And once the debts are discharged, the creditors are forever barred from trying to collect on the debt.

2. You won’t have your wages garnished.

As disappointed as I know you are about this fact, you will be able to keep all of your hard-earned money.

When you file a bankruptcy, a debt collector can’t keep taking money out of your pay, and the discharge that you receive prevents them from starting up a garnishment once the bankruptcy is over.

3.You may have disposable income.

That’s right. Money to pay for such frivolous things as food, clothing and medicines. You’ll be Livin’ La Vita Loca!

4. You can keep both of your kidneys.

Seriously, selling body parts to pay your creditors is way too overrated, and you never know when a friend or loved one may need a donor.

5. You will probably get more sleep.

You will spend less time staying awake at night watching various fly-by night companies telling you how they can consolidate your debts, reduce your money payments, reduce the amount you owe your creditors, win the war for the Allies and cure cancer.

Bankruptcy is a sure thing. It gets rid of your debts and allows you to get a fresh start. Debt-consolidation companies aren’t.

Cibik & Cataldo, P.C.
1500 Walnut Street, Suite 900
Philadelphia, PA 19102
Tel: (215) 735-1060
Direct: (215) 557-9001

Michael A. Cibik, Esquire

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