Wednesday, May 25, 2011

Raleigh Attorney Discusses Bankruptcy

In today's difficult economy sometimes bankruptcy may be an option to get out of personal financial debt. Reasons for getting into debt include job loss, divorce, uninsured medical expenses, and business disasters. According to bankruptcy case filings were up 13.8% from 2009 - 2010.

If you have debt that you simply cannot pay, or if the payments you send no longer cause the amount of debt to go down, you should consider obtaining a fresh start with the help of a bankruptcy discharge. Although bankruptcy is a fact in your credit history for 7 to 10 years, most people who file bankruptcy can obtain normal credit in much less time. As few things are extremely important to know:

  • You no longer have the debt that has been discharged
  • Bad payment history is no longer recent
  • If you have been able to live within your income after the bankruptcy filing, you will probably have some savings as well
As a Raleigh Attorney I see many clients in financial hardship. Contact a Raleigh bankruptcy attorney at the law firm of Hatch, Little & Bunn if you have any questions.

Hatch, Little & Bunn
327 Hillsborough Street
Raleigh, NC 27603
Phone:919.899.9827 Sphere: Related Content