How does bankruptcy help you in the long run?

Filing for chapter 7 bankruptcy, can help you in the long run in many ways. It will help you restore your credit sooner than if you paid off your bills. This is because your bills are discharged in on your credit report you know longer have them weighing you down against the income you have. The better your credit report is, the better so many other aspects of your life will become, from car insurance, to interest on the loan and finally the interest on purchasing a house. Yes bankruptcy will be reported on your credit history report for 10 years, but that is not the only consideration in a credit history report. If you have a lot of unsecured debt that you cannot pay for, and want a fresh start bankruptcy is the way to go. How much it costs and legal fees usually varies depending on the state you live in, anywhere between $750-$2500 is what you'll be paying for legal fees, and then you have your bankruptcy court filing fees, and the cost of the counseling courses. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob, #student, #loans, #education, #IRS, #taxes