The Long-Term Benefits of a Bankruptcy Filing
Helpful Information from South Jersey Bankruptcy Attorney Steven N. Taieb
If you face financial crisis, whether because of an injury or illness, a divorce, or the loss of your job, you may try everything you can think of to avoid bankruptcy out of fear that your creditworthiness will be permanently impaired. To the contrary, a personal bankruptcy filing under Chapter 7 or Chapter 13 can bring substantial long-term benefits. You want a knowledgeable lawyer who has worked successfully with others in your situation to help you through the process.
At Taieb Law, we have provided effective legal counsel to people in financial crisis for more than a quarter of a century. We understand how people get into financial difficulty, and don’t make any judgments about why you need bankruptcy protection. Our goal is always to help you find ways to permanently rid yourself of financial problems. In most instances, that is through a personal bankruptcy filing.
Attorney Taieb offers rare qualifications to people seeking protection through bankruptcy. He is one of only six attorneys in the state of New Jersey to be board certified in consumer bankruptcy law by the American Board of Certification. He has also written a book, entitled The Debt Trap: How Your Life Choices Impact on Your Financial Future, which offers financial management guidance to people from all walks of life.
For a private meeting, contact us by e-mail or call us at 856.235.4994.
The Long-Term Benefits of Bankruptcy
In addition to the immediate protection offered by bankruptcy’s automatic stay, the decision to seek protection under Chapter 7 or Chapter 13 can also carry long-term benefits. By discharging unsecured debts in a Chapter 7 proceeding, you can free up income to stay current with all your other obligations, such as your home and car. By keeping a clean record on those obligations, you will be considered a better credit risk when you go to buy a new vehicle or purchase a new home.
Another long-term benefit of a bankruptcy filing is that it demonstrates to potential creditors that you are willing to take the necessary steps to resolve financial problems. Most lenders are more concerned about how you handle your affairs after bankruptcy than they are that you actually filed for bankruptcy. Lenders understand that unforeseen circumstances can push almost anyone into bankruptcy. If you can demonstrate that your need for protection in bankruptcy was the exception, and that you can successfully manage your finances, your bankruptcy can and will be a thing of the past.
Contact Taieb Law
To arrange a meeting with a seasoned New Jersey bankruptcy attorney, contact our office online or call us at 856.235.4994.
We are a debt relief agency and are pleased to help clients file for bankruptcy relief under the U.S. Bankruptcy Code.