Get the Fresh Start They Deserve
Benefits of Bankruptcy
Helping Clients in Orange County Understand The Advantages of Bankruptcy
Many individuals in the current economic climate face a situation of crushing debt that may seem impossible to handle. There are federal laws that offer citizens the opportunity to make a fresh start. Bankruptcy has some substantial benefits for those having trouble with overwhelming debt.
If you are dealing with debt problems and are unsure how to proceed, contact The Law Offices of Joseph M. Tosti, APC, to discuss your situation. Our legal team is prepared to assist clients with Chapter 7, Chapter 13, and Chapter 11 bankruptcy filings, helping with loan modifications, ending creditor harassment, and other types of debt relief.
What are the Benefits of Chapter 7 Bankruptcy?
The benefits of bankruptcy chapter 7 include:
- Much of your debt will be discharged - you will no longer owe the money
- The ability to pay your remaining bills on time easily
- No more phone calls or letters asking for payment
- Relief from the stress of crushing debt
- Legal protection from debt collectors
- You can have a fresh start
- The ability to save money
What are the Advantages of Chapter 13 Bankruptcy?
With a Chapter 13 bankruptcy filing, you will have the opportunity to pay back the debt over time. This can be very helpful to those concerned about losing their home after interest payments suddenly jump, resulting in huge payments, or have back a debt that they cannot handle.
Chapter 13 bankruptcy can give you certain benefits, including:
- An increased possibility of keeping your home if it is in foreclosure
- The possibility of reducing the amounts owed on specific bills
- Time to recover financially and get your finances in order
- Enough time to pay off back debt
- The end of creditor phone calls
Are There Advantages to Chapter 11 Bankruptcy for Businesses?
In Chapter 11, businesses that have gotten in over their heads can bring certain benefits, including the following:
- The ability to keep business assets
- The end of creditor phone calls and letters
- The ability to continue your business in its present location
- The ability to continue your business with its current management
- Time to recover financially so that the company can become profitable again
- Relief from certain types of leases and debts that are no longer a benefit to the business
Contact The Law Offices of Joseph M. Tosti, APC today to learn more about the pros of filing for Bankruptcy!
Advice & Guidance Invaluable
“Joe's advice and guidance, before, during, and after my bankruptcy were invaluable!”
“Kathe kept me abreast of the entire process and was very communicative.”
“It was a great experience for what it is, with everything completely done with out complications. Joe tosti law offices is honest , quality attorney.”