What Happens After Bankruptcy Is Filed?
There is any number of unforeseen misfortunes that can cause you to get behind on your bills and financial responsibilities. Health issues, medical bills, divorce, and unemployment can all put you under undue stress.
If you’re having troubles meeting your obligations and phone calls from creditors are getting overwhelming, bankruptcy offers protection while restructuring your finances.
Work With Ursulova Law Firm, Brooklyn NY Bankruptcy Attorneys
When you hire the Ursulova Law Firm, the leading Brooklyn NY bankruptcy attorneys, their professional law team works as your advocate. Upon filing all applicable bankruptcy paperwork with your creditors and the court system, clients stop getting harassed at home and work for past due balances and overdue accounts.
If you have utility bills in arrears under the threat of disconnection, bankruptcy protection prevents the utility company from shutting off services. This protection includes electricity, gas, water, and other crucial services at your home. However, this protection only extends to the balance in arrears at the time of filing.
To keep your account in good standing after filing and having the balance charged off, you will need to make regularly timed payments to avoid having the issue reoccur.
During this time, it is illegal for any creditors notified of your bankruptcy filing from contacting you by postal mail, email, phone, or other methods. If they do, they are violating laws put in place to shield filers from harassment or threats.
What Debts Are Allowable In A Bankruptcy Filing?
Many types of debt can get erased by filing bankruptcy. Credit card debt, collection accounts, mortgage debt, and some types of legal judgments are eligible for dismissal. However, not all liabilities are available for discharge. For instance, student debt and child support are both financial liabilities that are ineligible for a write-off even when filing bankruptcy.
Want to learn how bankruptcy can protect you? Contact our law offices today.
