When you are trying to contend with an overwhelming amount of debt, the outlook can seem bleak. However, with the help of Pillar Law Group, there could be a way out of this tight spot. Bankruptcy can allow you to quickly, legally, and definitively settle most of your outstanding debts. Our Beverly Hills bankruptcy attorneys have helped countless clients to take charge of their future and their finances by filing for bankruptcy.
One common myth is that there is no way to recover your credit after filing for bankruptcy. However, bankruptcy gives you the fresh start that you need to start rebuilding your credit. Once all of your debts are taken care of, your credit can be returned to a clean slate, allowing you the second chance you need.
What are some other benefits of bankruptcy?
First of all, you must take what is known as the "Means Test" to determine which type of bankruptcy is right for you. Those with high enough disposable monthly income will generally go through Chapter 13, which restructures debt. If you do not qualify for Chapter 13, you will most likely file for Chapter 7. This method allows you to liquidate assets in order to quickly settle your debts.