Bankruptcy Can Stop Creditor Phone Calls
Even though it's December, some folks are hearing a different kind of jingle bells - the sound of their phone ringing off the hook with bill collectors on the line.
When you're late with payments on your debt, the bank doesn't care that it's the holiday season. Forget peace and goodwill towards men - collectors are not going to give you a moment's rest until they collect your money. After all, it's their job to bother you. But even though it may not feel like it, you do have rights. If harassment from bill collectors is getting out of hand, you might be able to put a stop to it with help from a bankruptcy attorney.
First, know when creditors are crossing the line. If they continue calling you at work after you've told them it's inappropriate, if they call you before 8 a.m. or after 9 p.m. or if they use threatening or abusive language, you may have rights for legal action under the Fair Debt Collection Practices Act.
Second, know that you don't have to put up with harassment, even when it falls within the boundaries of the law. When you file for Chapter 13 or Chapter 7 bankruptcy, an automatic stay puts an immediate stop to creditor actions against you - be it harassing calls, lawsuits, repossession or foreclosure. From that point on, your bankruptcy attorney will deal with creditors - not you. So you can go to work, eat dinner and get a good night's rest all without the sound - or the stress - of those dreaded phone calls.
But that's not the only relief you'll find with bankruptcy. If you're drowning in debt, a bankruptcy plan can pull you out of the water. With a realistic repayment plan and the potential reduction or elimination of some debts, you'll lower your debt burden and pay less interest to creditors over time, freeing up more of your hard-earned income for yourself.
Wondering if there's a bankruptcy plan that's right for you? Just try a free personal debt analysis with one of our Chicago bankruptcy lawyers. When you free yourself from debt, the only jingling you'll hear is the extra change in your wallet.