Life can really be a struggle for so many people. We live in times where the global economy is unstable and can affect the national economy at any moment. Additionally, the globalization of the workforce and the use of AI has affected many types of work and made them obsolete or changed them completely. All of these factors have combined to place many individuals and families under a lot of pressure, and higher levels of credit debt have seen many people living in poverty. Nevertheless, if you fear that you may lose everything, an experienced bankruptcy attorney in Fall River, MA can help.
Why Claim Bankruptcy?
Any legal professional at the nearby Law Offices of Tara M. George, PC can tell stories of desperate people with unmanageable levels of unsecured debt who have found the light at the end of the tunnel by claiming bankruptcy. In this sense, bankruptcy is a bit similar to starting with a clean slate. In fact, the whole concept of bankruptcy goes back to ancient times and represents a way for eligible people to deal with their debts.
The right bankruptcy attorney can clarify a financial situation and file the relevant documents so that creditors don’t hassle any longer. This process can help a great many people deal with the debt that is weighing down their lives and hurting them and their families.
What Kind of Bankruptcy?
Filings usually fall into one of two types of bankruptcy proceedings: chapter 7 bankruptcy or chapter 13 bankruptcy. An experienced bankruptcy attorney can help determine which is more relevant but in general terms. Chapter 7 concerns unsecured debt such as credit cards and so on, while chapter 13 is about securing more time to pay off existing debts.
If you are struggling with debt, it might be time to see a nearby legal professional about claiming bankruptcy.
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