The decision to contact a Chapter 7 bankruptcy attorney can be a difficult one. Though you need debt relief and a financial fresh start, navigating the waters of Chapter 7 bankruptcy can be frightening. Many people do not fully understand what the process will entail, and many don’t know what their lives will look like after they file for Chapter 7 bankruptcy with the help of a San Antonio bankruptcy attorney.
Get Relief From Those Harassing Phone Calls
The instant your San Antonio bankruptcy attorney files your paperwork for Chapter 7 bankruptcy, the court puts an automatic “order for relief” into effect. Sometimes called an “automatic stay,” the “order for relief” makes it illegal for any creditors to call you for any reason. While your San Antonio bankruptcy attorney is working hard to get everything in order for your bankruptcy, you and your family will be able to live in peace, free from those disturbing phone calls.
When it comes to finances, many people feel pushed to the brink prior to filing Chapter 7 bankruptcy with a San Antonio bankruptcy attorney. They have no idea how they will go about paying their debts to various creditors; they live in fear that they will lose their homes, cars and other property. Filing Chapter 7 bankruptcy with a San Antonio bankruptcy attorney eradicates that fear, by giving you debt relief. Everything that has frightened and confused you about settling your debts will now be in the hands of the court and its trustees. To free yourself from years of debt, all you need to do is work with your San Antonio bankruptcy attorney and follow their plan, which will leave you with lower monthly payments.
But will I lose my property?
In the old days, people who could not pay their debts were thrown in debtors’ prison, a bleak place where you would stay until you (or your family) had settled your debts. Thankfully, we are not so draconian these days. While you may have to give up some of your property to cover your debts, it will probably be luxury goods – fur coats, expensive musical instruments, coin collections – rather than necessities. You won’t be prevented from living a comfortable life. You’ll most likely get to keep your car, your household appliances and home furnishings, as well as clothing, jewelry and other personal effects. Work with your San Antonio bankruptcy attorney to determine which of your belongings can be exempted.