Benefits of Bankruptcy

I got into law to help people, because I care about making a difference. When I took the attorney oath to act with dignity, courtesy, and integrity I meant it. At Camphuis Law, I strive to treat every client with respect and care, and pass no judgement. Here, you won’t find a mean-stuffy lawyer, but you will find a passionate advocate.

Matthew W. Camphuis, Esq.

relief you need, legal services you deserve.

At Camphuis Law you will experience no judgment. In fact, I applaud you for your bravery in taking steps to get your finances back under control.

Sometimes, people shy away from bankruptcy because they worry about the stigma it may impose. But, bankruptcy is an act of courage. You decided to take responsibility and find a way out, and bankruptcy is a great legal tool for that. That’s why I love our bankruptcy clients so much. Plus, I always keep our clients’ information in the strictest of confidence.

Bankruptcy can even be a great way to increase your wealth, because it gives you a chance to start over. And starting over with all the knowledge you have gained getting to where you are may be just what you need to succeed.

Some of the benefits of filing bankruptcy include: (1) elimination of unsecured debt; (2) immediately stopping creditor harassment; (3) it may prevent foreclosure of your home or repossession of your vehicle; and (4) you can begin rebuilding your credit. Plus, at Camphuis Law you don’t have to ever leave the house to file your bankruptcy case, unless you want to.

preventing home FORECLOSURE or vehicle repossession

Just because you file for bankruptcy doesn’t necessarily mean all your assets will be sold to repay your debt. In a Chapter 7 bankruptcy, that possibility does exists — but there are still important exemptions that may protect some or part of the value of your assets. However, in a Chapter 13 bankruptcy individuals usually are allowed to keep their property, such as their house or car.

put a stop to creditor HARASSMENT

Generally, when you file for bankruptcy an automatic temporary stay is placed which puts a stop to any collection activities from creditors. This immediate relief is a godsend when you have been plagued by continuous calls and letters.

After your debts are discharged in bankruptcy creditors are prohibited from sending a letter to collect those debts or filing a lawsuit to collect. If creditors violate that prohibition you have the right to file a petition to re-open the matter and report the collection action. Creditors who violate the discharge may be held in civil contempt, fined, and may be ordered to pay your legal fees.

eliminate debt

You can discharge unsecured debts from your own personal liability when you file bankruptcy. In a Chapter 7 bankruptcy all non-secured debts will be discharged when you file. In a Chapter 13 bankruptcy, all remaining debts may be discharged after you have completed a court-approved payment plan.  However, not all debts will be discharged in bankruptcy; for example, student loans, child support, spousal support, taxes and federal loans will generally still need to be paid.

The only person you are destined to become is the person you decide to be.

Ralph Waldo Emerson

Book a free consultation today.