The Benefits of Bankruptcy

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7/30/2021

The Benefits of Bankruptcy | Rashad Blossom | Finance

a The Benefits of Bankruptcy by rashadblossom | Apr 6, 2021 | Bankruptcy, Finance, Uncategorized

While bankruptcy isn’t typically seen as an enjoyable experience to go through financially, it has certain benefits if you have a substantial debt to resolve. Since filing for bankruptcy can be pretty emotional for some people, it can help relieve stress in several ways. After filing for bankruptcy, people will notice that calls from debt collection agencies cease and that creditors will no longer be filing lawsuits to claim debt owed. Before filing for bankruptcy, many of those who receive a paycheck will notice that their wages are being garnished. This practice ends after the bankruptcy filing is approved. More importantly, for homeowners, a bankruptcy filing prevents the bank from foreclosing on your home. Meaning that you get to stay in your home as you repay or restructure your debt. https://rashadblossom.org/the-benefits-of-bankruptcy/

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