If you're considering filing for bankruptcy as a way to relieve your personal debt, you're probably wondering what sort of side effects bankruptcy might have – and that's a valid concern. Bankruptcy is a major financial move and can affect various aspects of your life.
Every person's situation is unique. To ask a bankruptcy attorney about specific potential side effects of bankruptcy, please fill out this form and arrange a free, no-obligation consultation with an attorney near you.
Whether you choose to file under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code, you will likely receive significant financial relief in some form - through a repayment plan in Chapter 13 or through a full discharge of some debts in Chapter 7.
Additionally, you may find that some of these bankruptcy side effects occur:
Of course, not everything related to filing for bankruptcy is negative – after all, bankruptcy protection is designed to ease the burden of debt for people struggling to make ends meet. So here are some of the specific positive occurrences you can generally expect when you file for personal bankruptcy:
If you’d like to speak with a bankruptcy lawyer about how bankruptcy might affect your life specifically, take this opportunity to arrange a free legal consultation today. Simply fill out the form on this page to get started.