What Are Five More Silly Reasons Not To File For Bankruptcy?

ANSWER:   1.  You can’t be sued to collect on a debt.

Sure, that Sheriff or Process Server that comes to your door at 5:00 a.m. is a really nice guy, and you’ll miss those early morning visits, but the fun has to end sometime.
More than ever, Creditors and Debt Collectors are suing people to collect on debts.  In fact these days, I see more and more clients that have been sued over debts of $1,000.00 or less.
When you file a bankruptcy it stops all collection actions.  This includes lawsuits.
And once the debts are discharged the creditors are forever barred from trying to collect on the debt.

2.  You won’t have your wages garnished.

As disappointed as I know you are about this fact, you will be able to keep all of your hard earned money.
When you file a bankruptcy,  a debt collector can’t keep taking money out of your pay, and the discharge that you receive prevents them from starting up a garnishment  once the bankruptcy is over.

3.  You may have disposable income.

That’s right.  Money to pay for such frivolous things as food, clothing and medicines. You’ll be Livin’ La Vita Loca!

4.  You can keep both of your kidneys.

Seriously, selling body parts to pay your creditors is way too over rated, and you never know when a friend or love one may need a donor.

5.   You will probably get more sleep.

You will spend less time staying awake at night watching various fly by night companies telling you how they can consolidate your debts, reduce your money payments, reduce the amount you owe your creditors, win the war for the Allies and cure cancer.
Bankruptcy is a sure thing.  It gets rid of your debts and allows you to get a fresh start.  Debt consolidation companies aren’t.

 

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Cibik & Cataldo: Philadelphia Bankruptcy Lawyers