When you really look at your debts, its much cheaper to pay a Bankruptcy Attorney a flat one-time fee VS paying all your creditors over time. Additionally, if you don’t file, you face the risk of being sued and having to defend your case in a civil court, your wages being garnished at up to 25%, your bank accounts levied, and liens placed on your assets.
Also, you will at some point have to deal with this debt and interests and penalties will have accrued. By spending a one-time payment NOW, you will avoid all these hassles. Your debt will be discharged in a few short months and you can start fresh with your finances.
- Upfront Costs vs. Long-Term Payments:
- Paying a bankruptcy attorney a flat fee may seem more manageable compared to ongoing debt payments, especially if your debt is substantial and accruing high interest and penalties.
- Avoiding Legal and Financial Risks:
- Bankruptcy can help you avoid the risks of being sued by creditors, defending yourself in civil court, wage garnishment, bank levies, and asset liens.
- Debt Discharge:
- Bankruptcy provides a way to discharge many types of debt relatively quickly, allowing you to start fresh and potentially avoiding the accumulation of additional interest and penalties.
- Fresh Start:
- The discharge of debt through bankruptcy can offer a clean slate, enabling you to rebuild your financial situation without the ongoing stress of managing unmanageable debt.
It’s essential to weigh these benefits against the long-term impacts on your credit and other potential consequences. Consulting with a bankruptcy attorney can help you make an informed decision based on your specific circumstances.
