When you are no longer able to continue servicing your debts, and the only option seems to be bankruptcy, you need to find Phoenix bankruptcy lawyers who can help you file the necessary paperwork. Depending on your individual financial condition, you can apply for either the chapter 7 or 13 bankruptcy. If you are not sure about which chapter is best suited for your unique circumstance, be sure to ask a bankruptcy attorney for advice.
How Bankruptcy Can Help You
When the court declares you bankrupt, your creditors will not be able to come after you. The threatening emails and notices will stop. A bankruptcy can also help you prevent the bank from repossessing your home if your mortgage is in default. In the chapter 13, all creditors including mortgage companies and credit card firms are repaid according to the court approved repayment plan. As long as you continue making regular payments, you can own the house.
Effects of Bankruptcy
Lenders will report you to credit reference bureaus once you file bankruptcy. This will affect your credit score thereby preventing you from accessing cheap loans from lenders. A poor credit score will also prevent you from renting a house, leasing a car and many other things.
Before you start filling bankruptcy-related forms, you must speak to competent Phoenix bankruptcy lawyers like those working for Frutkin Law Firm or Thomas Law Office. These professionals can help you to make an informed decision.
Running a small business can be one of the most time consuming and stressful experiences in life. It is important that you have book keeping services that are accurate and reliable in order to avoid financial problems in the future. However, there are thousands of business owners that deal with book keeping nightmares on an annual basis, this is something that you could protect yourself against. When you take advantage of the best free online accounting services, you would be able to keep all of your finances organized without having to worry about wasting money. This service will not subject you to an expensive monthly charge, you do not need to enter a credit card in order to sign up.
If you hope to become very successful with a small business, you will need to limit the amount of money that you are spending. However, many business owners spend a large amount of money on a regular basis in order to have all of their finances organized and taken care of. The solution to this would be a great free online accounting service that would provide you with a much better value. It is possible to save a large amount of time, effort and stress that you would be subjected to when dealing with financial problems. Instead of having to experience these problems, it would be wise to start using this program today for all of your financial needs. You would protect yourself against financial disasters while also saving money and with this great technology today.