Debt can creep up on your credit score for a number of reasons. Whether you need to take out a loan for emergency medical surgery or accrued debt as the result of a complex divorce, large amounts of debt can weigh your life down. However, you don’t have to suffer as a result. If you need help handling your debt, you’ll want to keep reading. You’ll discover how a Bartlett, TN bankruptcy lawyer from the Arnold Law Firm can help you navigate the process.
Incurring extreme amounts of debt can occur in a number of ways, leaving you feeling hopeless. If you find yourself surrounded by bills that seemingly don’t stop coming, you have options. Whether your credit card statements are getting higher or you’ve endured unforeseen medical circumstances, we can help you navigate the bankruptcy process. We’re familiar with a variety of related issues, including:
If your business is the reason you find yourself in debt, you don’t have to give up your passion. At the Arnold Law Firm, we understand that owning your own business has its challenges. We’ll do everything we can to help keep your doors open. Some of the business bankruptcies we handle include:
Though filing for bankruptcy is a great way to reduce or eliminate your bills, there are repercussions that you will need to thoroughly consider before making a decision.
Some benefits of filing bankruptcy include relief from harassment from creditors, being granted an automatic stay, and prevention of home foreclosure or car repossession.
While these pros are ideal, you’ll need to weigh the cons. For example, your credit score could plummet as a result of filing. This will make obtaining reasonable loans, low-interest rates, and credit approval more challenging. You will also have to wait at least two years before purchasing a home after filing for bankruptcy.
If you’ve considered the options and want to file for bankruptcy, ensuring you have a competent attorney on your side is vital. Luckily, we’re here to help. Reach out to the Arnold Law Firm today to discuss the details of your situation during a free case evaluation.