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Why Filing for Bankruptcy Can Be a Smart Decision

Why Filing for Bankruptcy Can Be a Smart Decision

Bright ideaBankruptcy can be a smart decision

Everyone wants to be smart, right? They want to make the best choices and be able to consider themselves capable of handling situations and knowing what to do. Unfortunately, it can be tough to always feel like this. We all make mistakes. Sometimes these mistakes are related to our financial lives.

One of the smartest things you can do if you are dealing with financial hardship is to consider bankruptcy. It’s not right for everyone, but there are instances in which filing can turn a person’s life around. The decision to file isn’t an easy one, but it can be a smart one.

Why might filing for bankruptcy be a smart thing to do if you’re dealing with debt and struggling financially?

Bankruptcy Might Make It Possible to Keep Your Home

One of the biggest financial challenges people face is affording a home. After all, it’s likely the most expensive purchase you’ve ever made. It’s also one of the most valuable purchases you’ve ever made and you should do all you can to maintain control of it. Bankruptcy can make this possible when you are facing financial hardship.

In most cases, you’ll be able to exempt your home from the bankruptcy estate. Many of the rules regarding home exemption have to do with equity and other issues that are specific to each individual filing, so it’s important to work with a bankruptcy attorney who can help you protect your home.

Bankruptcy Prevents Creditors from Bothering You

If you’re struggling financially there’s a good chance you hear from creditors regularly. It’s no surprise they’re aggressive when it comes to collecting the money you owe them. Even those who stay within the letter of the law and don’t harass you can be bothersome and cause you embarrassment.

When you file for bankruptcy you’ll be free from this burden. Bankruptcy creates something known as the automatic stay, which prevents creditors from contacting you or taking any collection actions against you. This means your daily life becomes a lot less stressful when you file.

Bankruptcy Discharges Your Debts

Perhaps the biggest advantage of bankruptcy is the discharge of your debts. The unsecured debt you owe, which includes credit cards, medical debts, and more, can be discharged when you file, which means you’ll no longer be responsible for paying it back. How long this takes depends on the chapter bankruptcy you choose, but in the end, you’ll be free of a significant portion of your debt.

Bankruptcy Gives You a Fresh Financial Start

Once your bankruptcy is complete, you’ll have a fresh financial slate. You’ll eventually be able to apply for credit and start rebuilding your credit score. You’ll also be free of the excessive burden caused by your insurmountable debt problems. You can relax and enjoy your life again without spending every waking moment worrying about finances and what you’re going to do next to fend off creditors. It’s a choice that can turn your life around and allow you to get a strong financial footing again.

And when it comes right down to it, that’s pretty smart.

If you’d like to know more or you’re ready to speak to someone about filing for bankruptcy, contact the Bankruptcy Law Office of Robert M. Geller at (813) 254-5696 or schedule a free bankrutpcy filing consultation online.

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$Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405


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$Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: (727) 532-3939


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23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320





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At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.