Most of us have monthly payments on credit cards, rent, mortgages, student loans or vehicles. When you lose your job, you may be suddenly unable to afford these payments. This is especially true if you cannot access unemployment benefits or lack an emergency savings fund. You could face consequences for defaulting on your debt obligations. Lower credit scores, property seizures and wage garnishments are three possible outcomes of a debt default. Depending on your individual circumstances, you may benefit by filing for bankruptcy after a job loss. Bankruptcy can help with the following: 1. Stopping creditor collection actions. Bankruptcy’s automatic stay can stop most creditor collection actions. For instance, the automatic stay may stop wage garnishments or property seizures. The automatic stay may stop new lawsuits from being filed against you 2. Discharging certain debts. You may discharge certain debts after filing for bankruptcy. Bankruptcy could allow you to discharge…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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