Are you being hounded by the collection agencies that were hired by your creditors? If you have debt that you’re unable to pay, filing for bankruptcy is an option afforded to you by law, and while your case is being considered, collection agencies cannot hassle you.
Without a doubt, bankruptcy is a serious financial decision. A bankruptcy will remain on your credit report for seven to ten years. Merely wanting to stop a collection call or two is not enough reason to file bankruptcy. And you must bear in mind, too, that bankruptcy will not relieve all debts. Some of the debts that cannot be removed by bankruptcy include spousal or child support, drunk driving judgements, criminal fines or restitution, debts incurred by fraud or intentional wrongdoing, recent back taxes, student loans, or recent large purchases made within 90 days of filing.
If you’ve thought it out and you believe that bankruptcy is a good debt relieve option for you, Dayton, Ohio Bankruptcy Attorney Chris Wesner can help you understand the types of bankruptcy available and which type — Chapter 7 or Chapter 13 — would be most beneficial according to your own unique circumstances.
In order to file bankruptcy, you will need a list of your present and past debts, as well as a list of your assets to include in the petition and a statement of your financial affairs. Once you’ve filed the petition for your bankruptcy and the petition receives a “Relief Ordered” stamp, creditors must stop all collection attempts against you.
For more information on putting an end to collection agency phone calls by filing for bankruptcy, contact us.