Constant Creditor Calls Can Frustrate and Embarrass Debtors
Do you worry about inviting guests to your home because of constant calls from creditors? If so, you are not alone. People who are struggling with debt are typically plagued by calls from lenders asking for payment. When your finances are not where they should be, these constant calls can have an impact on mental and emotional well-being.
If you can’t think straight, there is no way of getting a handle on debt repayments. A bombardment of calls is one of the things that frustrate any effort to get back on your feet. Ignoring the calls is not ideal, either; so, what is the solution? You may wish to consider filing for either Chapter 7 or Chapter 13 bankruptcy.
Automatic Stay
When you file for bankruptcy, the automatic stay can become a saving grace. This function of the bankruptcy process prohibits creditors from further attempting to collect a debt. That means no more calls while your bankruptcy is in motion.
The automatic stay may also have a positive impact on your mental health. The constant and sometimes aggressive pursuit of payment can cause anxiety and depression. Individuals who file for bankruptcy may feel a sense of relief that allows them to take more positive steps toward financial freedom.
Reduce or Eliminate Debt
A Chapter 7 bankruptcy can eliminate much of your debt, while a Chapter 13 is designed to reorganize your finances through the reduction of monthly payments. Both options include the automatic stay function that prevents creditors from making further contact.
If you think that bankruptcy may provide the best solution to your financial woes, a consultation with an experienced bankruptcy lawyer is the next step. Call Gingold & Gingold today if you would like help with your financial situation. We value quality of personal service and offer a free initial consultation.
