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The Top 5 Benefits of Filing Bankruptcy in Georgia

Even though Chapter 7 and Chapter 13 bankruptcy are valuable tools necessary for many people's future financial health, some are still afraid of them. To find out about all the various benefits you will receive from a bankruptcy, you should consult your own Conyers GA Bankruptcy Attorney. Everyone's situation is different so it is best that you get an answer tailor made for you. However, there are a few benefits that will help regardless of your situation.

The five top benefits for filing either Chapter 7 or Chapter 13 bankruptcy in GA are:

1. The Automatic stay - By far the biggest benefit because it stops almost all types of creditor collection attempts. One of the biggest drawbacks to owing people money is their constant harassment. Once the automatic stay is in effect, creditors will only be able to contact you through your Conyers GA Bankruptcy Attorney.

2. Start rebuilding your credit - A major bankruptcy fear is that it will hurt your credit. It will in the short term but odds are your credit is already bad. The bankruptcy may hurt your score for a while but it will also clear the decks in preparation for you building up good credit in its place.

3. Get a clean financial slate - A bankruptcy will let you rid yourself of all the entanglements your bad choices have caused. It makes it much easier to get your life back in order when you can leave the baggage behind.

4. Stop losing income - If you are in debt and you don't start doing something about it then you are just hemorrhaging money. A bankruptcy will staunch the flow.

5. Stop any repossession or foreclosure - The automatic stay in a bankruptcy process is one of the only ways for you to stop foreclosure proceedings and give you time to come up with a plan of action.

Contact The Bankruptcy Law Group if you have decided that bankruptcy is the right choice for you. One of our Conyers GA bankruptcy attorneys can get you a FREE quote for your GA Bankruptcy.