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Sunday, July 30, 2017
Saving your credit score is only one of many reasons to Consider Bankruptcy
Credit scores aren’t the only
aspects why you should consider in filing bankruptcy.
Its anend to collection h-e-double hockey sticks!: Nosal’s
study cited above found that once people fell seriously behind on their debt —
with at least one account 120 days overdue, for example — their financial
troubles tended to get worse. Balances in collections and the large percentage
of people with court judgments grew.
People who finally utilize the
government program to file for bankruptcy benefit from the “automatic stay,”
which stops almost all collection efforts, including lawsuits and wage
garnishments. If the underlying debt is erased, the lawsuits and garnishment
end and in a lot cases, debt free.
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