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Are you struggling under a mountain of debt and constantly dealing with the stress of creditor harassment and collection efforts? If you're a resident of New Mexico, filing for Chapter 7 bankruptcy may be a solution for you. Chapter 7 bankruptcy can help stop creditor harassment, collection efforts, and even discharge many of your debts. This blog post will explore how filing for Chapter 7 bankruptcy can help stop creditor harassment and put an end to collection efforts, giving you the fresh start you need.
Chapter 7 bankruptcy is a legal process that allows individuals who are unable to pay their debts to get a fresh start. Under Chapter 7, a bankruptcy trustee collects and sells your non-exempt assets to repay your creditors, and most unsecured debts are discharged at the end of the process. This means that you are no longer legally obligated to pay these debts, and creditors are not allowed to take action against you to collect on them.
One of the most significant benefits of Chapter 7 bankruptcy is the automatic stay. The automatic stay is a legal order that goes into effect as soon as you file for bankruptcy. It immediately stops most creditors and collection agencies from contacting you or taking any action to collect on your debts. This means that they can no longer call you, send you collection letters, garnish your wages, or file lawsuits against you.
While the automatic stay is a powerful tool for stopping creditor harassment and collection efforts, there are some exceptions. Some types of debts, such as child support, alimony, and taxes, are not discharged in Chapter 7 bankruptcy and may still be collected by the creditor. Creditors can also file a motion with the court to lift the automatic stay in certain situations, although they must have a valid reason for doing so.
If you are still receiving calls or letters from creditors after filing for bankruptcy, it's important to take action to protect yourself. You can notify them that you have filed for bankruptcy and provide them with your case number and the name and address of your bankruptcy attorney. If they continue to harass you after being informed of the bankruptcy, you may be able to take legal action against them.
After your Chapter 7 bankruptcy case is complete, most of your debts will be discharged, and you'll be free from the burden of excessive debt. However, it's important to note that bankruptcy can have a long-term impact on your credit score, and some creditors may be hesitant to lend to you in the future. It's crucial to work with an experienced bankruptcy attorney who can help you understand the long-term implications of filing for bankruptcy and help you develop a plan to rebuild your credit.
If you're struggling with debt and constant creditor harassment, filing for Chapter 7 bankruptcy may be the solution you need. Chapter 7 bankruptcy can stop creditor harassment and collection efforts, giving you the fresh start you need to take control of your finances. To ensure that your bankruptcy case goes smoothly and that you're able to achieve the best possible outcome, be sure to work with an experienced bankruptcy attorney who can guide you through the process.
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Phone: 505-305-0232
Email: jason@attorneyjasoncline.com
2601 Wyoming Blvd. NE
Suite 108
Albuquerque, NM 87112
We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
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