Information About Bankruptcy and Your Rights
Bankruptcy can be intimidating. You may be considering bankruptcy but do not understand your rights or options. You may suffer from what seems like insurmountable debt but wonder if you can ever recover from the stigma attached to bankruptcy. Is it worth it? The process of bankruptcy may seem confusing and complex but with the support of an experienced bankruptcy attorney, you can feel confident and comfortable with the bankruptcy process.
Call 205-581-1299 or contact the Martin Law Firm, LLC, today for a free consultation regarding a bankruptcy or an automatic stay.
The Stigma of Filing for Bankruptcy
For many people, bankruptcy has a stigma. You may feel that if you file for bankruptcy, you are taking the “easy way out.” You may feel embarrassed that you have so far failed to pay back those you owe. You may feel that you have not worked hard enough or that there should be another option. You should not eliminate the choice until you find out all the facts. For many people, bankruptcy has been a lifeline and a means of taking control of their monetary problems with hard work and determination.
The Truth About Bankruptcy
The fact is, the federal government enacted bankruptcy laws to protect consumers and business owners from unmanageable and overwhelming debt. Debt in the marketplace prevents consumer spending and can weaken the overall market. Bankruptcy is a safety valve specifically intended to protect consumers when they are burdened by debt from which they cannot recover.
New Bankruptcy Laws and Your Rights
Some people incorrectly believe that no one can file for bankruptcy protection anymore because of new legislation that went in effect in 2005. This is absolutely not true. The new rules and regulations only determine type of bankruptcy you might qualify for:
- Qualified filers can get a case filed and stop the creditor harassment within a short amount of time.
- The automatic stay can provide protection for your car, home and other assets, and it stops garnishments.
- A Chapter 13 can allow people to save a home or car, while Chapter 7 is generally for people with large amounts of credit card debt, medical bills or certain civil lawsuit judgments.
Contact Martin Law Firm, LLC for a free consultation with an experienced bankruptcy and debt relief lawyer.
Evening and weekend appointments available • Conveniently located in the Frank Nelson Building, Downtown Birmingham, Alabama
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.