I AM SO SICK FROM CREDITORS CONSTANTLY CALLING ME THAT I DON’T KNOW WHAT TO DO. HOW CAN YOU HELP ME?
People don’t realize how stress can destroy them. It can prevent people from sleeping and people can overeat, gain weight and develop diabetes or other serious diseases, or people can lose their appetite and get other serious complications from constant stress.
Any way you look at it, stress can literally kill you. We live in such a fast-moving society where everybody wants an instant response to their texts or emails and human contact is decreasing incredibly. However, when you add financial pressures to the ordinary life stressors, stress can literally destroy people.
People get up early and work very hard for their possessions and the credit ramifications of filing bankruptcy is nothing compared to the stress from harassing phone calls, letters, lawsuits, garnishments, levies, repossessions and foreclosures.
A bankruptcy will help eliminate this terrible stress by creating a stay which stops creditors from pursuing you. Even if you have had your wages garnished for 1 month, the bankruptcy will stop any further garnishment and if the creditor refuses to comply with the bankruptcy stay, he is subject to sanctions for willful violation of the stay.
Either Chapter 7 or Chapter 13 will create a stay. You just do not want to file the wrong bankruptcy since it could have serious ramifications.
Bankruptcy is very complex and not just filling out forms. There are many traps that you have to be wary of before filing a bankruptcy petition. For example, even though you are under the median income, if you file a Chapter 7 and you have substantial property which is not covered by all the exemptions, the Chapter 7 trustee then will move to liquidate the property, which would not be touched in Chapter 13.
However, the most important thing is that once you file bankruptcy, a stay goes into effect (except in limited circumstances where you have had prior filings)* which will stop the phone calls, harassment and the stress that is killing you.
Filing bankruptcy might just save your life.
If you have any questions concerning this matter or any other matter contact TAIEBLAW at 856-235-4994 or visit our website at TAIEBLAW.COM, and schedule a FREE initial consultation.
Steven N. Taieb, Esq. has been a South Jersey Bankruptcy Attorney for over 33 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.
*The attorney will explain these circumstances to you.