No attorney client relationship. We can’t guarantee any results. This is for informational purpose only. Any past results don’t guarantee future results. Advertisement only* Be aware of scammers - this is the only Karra L. Kingston Esq. that exists. We will never ask you for money. Be aware of anyone asking you to send them money*** Bankruptcy: Filing for bankruptcy can offer several benefits, particularly for individuals or businesses struggling with overwhelming debt. Here are five good things about filing for bankruptcy: 1. Debt Relief and Discharge: Bankruptcy can lead to the discharge of many types of unsecured debt, such as credit card balances, medical bills, and personal loans, giving the filer a fresh start. 2. Automatic Stay: Once bankruptcy is filed, an automatic stay goes into effect, which halts most collection activities, including creditor harassment, wage garnishments, and foreclosure proceedings. 3. Retain Exempt Assets: In many cases, filers can keep certain assets, such as their home, car, or retirement accounts, depending on the type of bankruptcy and state exemption laws. 4. Reorganization of Debt: In Chapter 13 bankruptcy, you can restructure your debt into a manageable repayment plan, potentially reducing the total amount owed and making it easier to pay off creditors over time. 5. Improved Credit Over Time: bankruptcy can lead to long-term improvement as it provides a path to eliminate unmanageable debt and avoid defaulting on obligations. Many people are able to rebuild their credit after bankruptcy and start over by taking out new credit cards.
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