Can I Afford To File Bankruptcy? (Can You Afford Not To?)
A very common question from people considering bankruptcy is, “Can I afford to file?” Burdened and overwhelmed by debts, they wonder if they can afford attorneys’ fees and court filing fees. By the time a debtor reaches this point, a more appropriate question is nearly always, “Can you afford not to file bankruptcy?”
A review of monthly income and outgo of resources often reveals large amounts being paid to creditors without ever reaching the goal of financial stability. Meanwhile, in many cases, creditor harassment and financial pressures often come to a point where a person becomes afraid to answer the phone or review bank balances. Potential or actual consequences such as car repossession, wage garnishment, bank account levies, eviction and/or home foreclosure each bring harsh aftereffects.
By contrast, bankruptcy has the power to bring about true debt relief. Filing bankruptcy immediately stops bill collectors in their tracks. In a purely hypothetical typical case, a monthly outflow of $1,800 in debt servicing each month might be reduced to $600 a month in an affordable restructured debt repayment plan for a Chapter 13 bankruptcy. A Chapter 7 bankruptcy often wipes out all credit card debt, medical bills and installment loans altogether.
So what about those lawyers’ fees and court filing fees? Can you afford them? Sit down and talk to a bankruptcy attorney at Lefkovitz & Lefkovitz in Tennessee and you may be surprised by a workable, customized solution that becomes clear during a short conversation.
Call Nashville Attorneys For Bankruptcy Information And Answers | Free Consultations
Contact our office in Nashville at 615-256-8300 or our office in Cookeville at 931-400-2218. You can also reach us via email. Begin your free initial conversation with one of our attorneys with the question on your mind, “Can I afford to file bankruptcy?” and see how readily you ask yourself soon thereafter, “Can I afford not to file bankruptcy?”
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.