Lefkovitz & Lefkovitz
Nashville Office 615-686-2279 Cookeville Office 931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs

Four things you'll be happy about after a Chapter 7 bankruptcy

It's a horrible thing to be buried in debt. Emotionally, you may move between powerlessness, hopelessness, anger, resentment, panic and a host of other miserable states.

If you feel stuck in major debt because of a divorce, a job loss, a medical event, a business failure or another serious problem, you are not alone in the stressful misery. If your best efforts -- a second job, selling possessions, credit card balance transfers, 401 (k) withdrawals, more debt, and the like -- have been unsuccessful, you may be reading about Chapter 7 bankruptcy to see if it is a viable option for you and your family. If you qualify for and file Chapter 7, which is often referred to as liquidation, these are some of the good things that could happen to you.

1. Collectors will stop calling you

For many people who are struggling with debt, phone calls from aggressive, rude collection agents have become a daily burden. Once you file under Chapter 7, creditors can no longer contact you. They are literally forced (by a court) to stop calling you and your family members.

2. You'll have more money for the important things

Once you do away with credit card debt, medical debt, loan debt and other unsecured financial burdens, you will have more a lot more money to pay for housing, food, transportation, utilities and other expenses. Mortgage, rent, groceries and other necessities are so much more important than payments to a credit card company or a hospital corporation. This is great news for all Chapter 7 filers.

3. You can rebuild your credit scores

Some people are reluctant to file for bankruptcy because they're afraid of their credit being "destroyed," even though their credit may already be in the toilet. Yes, a bankruptcy filing can stay on your credit report for years, but your credit scores will improve once you're able to pay all your bills on time.

4. You can start saving money

During times of financial crisis, many people end up emptying their savings and retirement accounts and borrowing money from friends and family. Getting out of debt means you can start putting money away for emergencies, future needs and giving to worthy causes.

5. You can actually have more fun

Getting out of debt feels great, not just because you're no longer worried about harassing phone calls and feeling guilty about payments you can't make. It can also be gratifying to have extra money to do fun things again.

Every debt situation is different. Chapter 7 or 13 may or may not be the answer for you. Talking to an experienced professional can help a lot.

No Comments

Leave a comment
Comment Information

We Look At Your Case From Every Angle To Find The Solution That Is Right For You

Bankruptcy help for everyone, from the most simple to the most complex cases.

Call Us Now To Schedule A Free Initial Consultation

Contact our Nashville office at 615-686-2279 or our Cookeville office at 931-400-2218. You can also reach us via email to set up a time to talk to us about your debts.

Get Legal Help Now

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Nashville Office
618 Church Street, Suite 410
Nashville, TN 37219

Phone: 615-686-2279
Fax: 615-255-4516
Nashville Law Office Map

Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 931-400-2218
Fax: 931-526-6244
Cookeville Law Office Map

Back To Top