Chapter 7 Bankruptcy Lawyer Waterbury, CT
It is rare to find someone who doesn’t have some kind of debt. There are mortgages, vehicle loans, credit cards, medical bills, and more that many residents of Connecticut juggle each month. While many people address their debt with smart budgeting and watching their spending habits, it can still not be enough to hold off financial hardships. For those facing overwhelming debt, bankruptcy may be a solution. As a chapter 7 bankruptcy lawyer Waterbury, CT trust can explain, bankruptcy is a legal process that allows those in debt a fresh start.
- Filing for bankruptcy will affect your credit. As your chapter 7 bankruptcy lawyer in Waterbury, CT can explain, once your bankruptcy case is complete, you will have to start building up and restoring your credit. A bankruptcy filing does cause your credit score to drip, however, being late with payments month after month or defaulting on debt can have an even more significant impact on your credit score. If you have been struggling with this debt for a while, you will likely find that your credit score will be about the same after your bankruptcy is complete as it was right before you filed.
- Filing for bankruptcy is not free. Depending on how extensive your case may be, filing for bankruptcy may be expensive, costing anywhere from a few hundred to a couple of thousand dollars. Discussing the costs with your lawyer will give you a much clearer idea of what type and the amount of fees you may be looking at.
Can a Waterbury, CT Chapter 7 Bankruptcy Lawyer Help?
It can be hard to make the decision to file for bankruptcy, especially given the negative preconceived notions many people have about the process. Some people feel as if bankruptcy is a failure. The truth is, however, it can often be the best decision you can make to enable you to get past this period and start over. If you are considering filing for bankruptcy, make sure to speak with The Law Offices of Ronald I. Chorches. Our legal team will ensure that you understand all the aspects of filing for bankruptcy, as well as which type of bankruptcy would be the most beneficial for your situation. Call our office today to schedule a free and confidential consultation.